Old Mutual SA reaches agreement on R3-million pension payout

Old Mutual SA has apologised to customers for poor service amid social media backlash. Picture: Karen Sandison Independent Newspapers

Old Mutual SA has apologised to customers for poor service amid social media backlash. Picture: Karen Sandison Independent Newspapers

Published Mar 12, 2024


Even though Old Mutual SA has finally come to an arrangement in settling the payment of a R3-million pension payment of an irate family, customers remain wary of continuing to support the financial services company.

Following a meeting between Old Mutual, Sebabatso Molefi and her mother’s legal representative today, the insurer announced that they had a positive engagement.

Celiwe Ross, spokesperson for Old Mutual SA, thanked the family for making the time to meet the representatives and apologised for the way the issue was handled.

Ross explained that the insurer recognised that this had been a frustrating encounter for the family, reiterating that the company had been reluctant to engage and debate on X, formerly Twitter, stemming from the complexities of the case and their duty to protect the personal information of the individuals involved.

“The sheer number of customers that have voiced their unhappiness on X with regards to our levels of service is of huge concern to us. We apologise unreservedly to all customers who have been unhappy with the service we have provided and we are continuously looking at ways to improve this,” the spokesperson added.

Molefi also shared a post on her personal X account @Seba_S_M shortly afterwards to update social media users who had supported the family.

“Myself and mama’s lawyers, Morolong Inc, met with Old Mutual this morning. The meeting was positive. Old Mutual tabled two options towards a full and final settlement of the matter. We have requested further information/clarity on each, subsequent to which we will take the final decision.”

She added: “I would like to thank everyone for the continued support on this journey.”

Despite this positive update in the situation, some social media users remained adamant about ensuring as many people cancelled their investments with the insurer.

“How about other families you scammed? There’s a video of a father who wanted his R10 000 to bury his child. This is just one of thousands of terrible stories about your poor service,” commented user @nkulipp.

User @XoliswaKeke added: “So you apologise, but you’re not offering any solutions in terms of what all those people who raised their issues here after having been unsuccessful with your company must do. Okay.”

The insurer came under fire after Molefi expressed her frustration on X, blasting the company for stalling in paying out her mother’s R3m pension investment even after securing a court order on December 14, 2023.

The Star

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