Old Mutual Faces Backlash Over Alleged Refusal to Pay Out Customer’s Pension Funds

Financial institution Old Mutual is currently embroiled in a social media uproar following claims that it has failed to pay out a customer’s pension funds despite a court order.

The controversy began when a user named Sebabatso Molefi took to social media platform X to express her frustration with Old Mutual’s alleged refusal to release her mother’s pension savings, despite providing a court order.

Sebabatso Molefi’s post quickly went viral, garnering over 1.3 million views and sparking a wave of public outrage against Old Mutual.

Responding to the outcry, Old Mutual initially stated that they were investigating the matter and requested three business days to provide feedback to Molefi.

However, Molefi expressed disappointment with Old Mutual’s response, calling it “disgusting” and pointing out that the individuals tasked with investigating the issue were already aware of the situation.

After additional email exchanges between Molefi and Old Mutual, the company eventually issued a statement on X, acknowledging the sensitivity of the issue and expressing a willingness to address the situation in a private meeting with Molefi.

Following continued pressure on social media, Old Mutual apologized for its handling of the situation and committed to finding a resolution to the matter with Molefi and other stakeholders involved.

In response to media inquiries, Old Mutual emphasized their commitment to compliance with pension funds and tax laws while also ensuring the timely payment of the affected parties.

A meeting between Old Mutual and Molefi is scheduled for March 12, where discussions on resolving the issue are expected to take place.

The unfolding saga has brought to light the experiences of other X users who claim to have also faced challenges with Old Mutual in obtaining their insurance claims, further adding to the public scrutiny facing the financial institution.

As the story continues to develop, Molefi has refrained from engaging with the media until after the forthcoming meeting with Old Mutual.

With ongoing coverage by The Citizen and IOL NEWS, the outcome of the meeting and any subsequent actions taken by Old Mutual will be closely monitored by the public.