OK where do I start. Was retrenched at the end of Jan 2013. Still without a job.
Decided to ask Momentum to payout my Optimised Capital Preservation fund. To help me get some stuff to do my own thing.
Firstly over the phone I was told that that would be no problem as the total is less than R75 000 and all the forms was emailed to me. Got the form got all the info they needed and emailed it back. Got an email back saying that the money will be paid out in the next 7 to 14 days. COOL happy client.
After a few days I just wanted to know if everything is still on track with my pay-out. I then got told that they cannot pay me out as the value is above R50 000 (it was about R51200 or something like that). WHY I WAS NOT CONTACTED AND TOLD THIS I DO NOT KNOW.
So now I am told that if I wait for the next 2 pay-out the total could be less than R50 000 and that I can then apply for the pay-out again.
Now things at home are getting bad. Get hold of Momentum again and one lady told me that I can change the pay-out date after the next pay-out day to speed up the process of getting the total value below R50 000. This we have done and it worked. It was now less than R50 000.
(Supplier name changed from Momentum Retirement Administrators to Momentum by Hellopeter.com)
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