By Rorisang Modiba
Old Mutual became a trending topic on X over the weekend, with users sharing their experiences of not receiving payouts from their life or investment policies.
The conversation was sparked by Sebabatso Molefi, who shared her incident involving Old Mutual, highlighting an alleged failure to follow a court order.
After she shared her story online, it quickly got a lot of attention.
Molefi explained how her mother was having trouble getting her pension money from Old Mutual.
“Dear Old Mutual, why won’t you give my mother her money when we have a court order saying you should? You are in contempt of court and I am about to lose my cool right now,” she wrote.
The situation escalated when others began sharing their bad experiences with Old Mutual.
Old Mutual wrote in a statement that they are committed to finding a solution.
“We would like to apologise for the way we have managed the outcry on social media,” Old Mutual replied, the Citizen reports.
“Our reluctance to engage and debate on X stems from the complexities of the case and our desire and duty to protect the personal information of the individuals concerned.”
Old Mutual emphasised the need to balance compliance with the court order with their obligations under pension funds law and tax law.
“We intend to ensure the parties are paid. We are investigating ways to solve the problem and will be meeting with the family this week,” said Old Mutual.
Grammy award-winning musician Zakes Bantwini also wrote on X that he only received R380 from Old Mutual as a payout for his mother’s life cover.
A former employee said he was forced to pay Old Mutual R160,000 and mentioned how the company mistreated staff.
“Old Mutual financial advisors get fined all the commission they made when they leave the company. I am sitting with a bill of R160,000 that I have been paying for the past four years,” he claimed.
