Two-pot snag: Sanlam responds to reader

It is more than a month since the two-pot retirement system came into effect and seemed to be sailing smoothly until a reader raised a complaint.

- Ina Opperman

The system began payouts on 1 September and pension fund members have claimed R21.4 billion so far from the saving pots of their retirement funds, according to Sars.

One of our readers however complained that it was not easy to submit his withdrawal application to fund manager Sanlam. The reader complained that they had been trying for weeks to just get the required form.

“Even the online QR link that Sanlam provides is a dead link. The app is nonexistent on Play Store,” said the reader.

“Many people are complaining and all they are telling everyone is that it has been forwarded to corporate to fast-track, which is nonsense because I read all the reviews from a month ago, everyone has the same story.”