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Thread: Missing Pension Preservation Fund

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    Missing Pension Preservation Fund

    I am not sure if I am in the correct forum, but I would like some advice on the following.

    I change employer in 1995 and received a letter from Alexander Forbes stating that my pension from my previous employer was transferred to the Sage Life Preservation Pension Fund. I was going through my old documentation the other day, and decided to enquire about this. I receive a return email from Alexander Forbes informing me that "your funds where transferred to Sage Life Preservation fund that is not held with Alexander Forbes".

    I then tried to get hold of Sage Life and found out that they were taken over by Momentum. When I contacted Momentum, they replied with the following: "Please note that we cannot find the client on our records". They also indicated: "We can confirm that Momentum took over Sage life policies". I then contacted Alexander Forbes again and was told: "Kindly be advised that we could not locate occupational fund record/s on the Retirement Fund platform and we are unable to assist further".

    The funds was worth R29 004.90 at the time (1995), and I made a partial withdrawal of R15 000. The only documentation I still have is from Alexander Forbes stating a Sage Life Preservation Fund Membership number which does not exist any more.

    I would realy appreciate it if there is someone out there that could advise me wat my next step would be as neither Alexander Forbes nor Momentum seems willing to assist me.
    Last edited by LAries; 11-Mar-16 at 03:58 PM.

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    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by LAries View Post
    I would realy appreciate it if there is someone out there that could advise me wat my next step would be as neither Alexander Forbes nor Momentum seems willing to assist me.
    The next step would be to contact the Pension Funds Adjudicator and lodge a complaint.
    (I've linked to the homepage, but check out Complaints in the header menu bar once you've got a sense of what they're about.)
    The trouble with opportunity is it normally comes dressed up as work.

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