Old Mutual
INSENSITIVE OLD MUTUAL

I have contracted a voluntary Retirement Annuity policy with OLD Mutual (OM) in August 1999. I regularly paid the premium until 2010.

I have been retrenched in February 2009. It is now 4 years that I'm not not working (except 2 short contracts of 5 and 6 month. I have consequently lost everything (house, car, etc.). I could be be soon in the street.

Old Mutual to give me access (even a part) to my investment (R67, 958).

The fund value before the paid-up in June 2010 was R67, 799. Today after almost 3 years the fund is R67, 958 - a difference of R50. It obvious that Old Mutual has a GOOD REASON to keep my fund.

How can these GREEDY and MALICIOUS practices can be allowed? With these kind of business practices no African country will ever be considered/classified as a developed country.

IT IS DISGUSTING. SHAME to OLD MUTUAL. I hope that I will be able to access the fund (my hard work earnings). Companies like Old Mutual (- No ETHICS.) MUST be exposed and SHAMED.

NB: The reason given is that I can only access my fund when I'm retired. Which normal law or policy does not include clauses for exceptional cases?

Regards.

Company: Old Mutual
Country: South Africa
City: Customer Services

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