1 reviews | Active since Member
I am writing this review directly to the National Treasury because I have been informed that they are the ones creating rules/ legislation regarding withdrawal of Living Annuties etc. I have a small living annuity with Sanlam Glacier. It is meant to be a ten year term. I took it out in 2019. I am 65 years old soon to be 66 in December. Besides the small Sassa grant that I get monthly this annuity is my other source of income. I retired in December 2018 ( the companies retiment age is 63 years old) I had been with that company for 7 years only. ( 2012 to 2018). Prior to that I was unemployed hence when I retired in 2018 my pension pay out was very little. I have a mortgage bond I took long before 2012 and during the time I was unemployed, my dad was still alive and he helped me with the payments, unfortunately he passed away in 2012, however by the grace of God that's the year I got a job which took me to 2018, meaning that I was only employed for 7 years only. Currently my only income is the Sassa grant. I have other obligations to deal with and I am unable to pay my Homeloan, I am now on a 2nd month of not paying the full installment of my Homeloan. I then approached Sanlam Glacier whom I invested my pension to help me out, either by paying me what's left of my pension or pay the balance straight to my Homeloan. Sanlam Glacier spoke to me a while ago today and advised me that thier hands are tired they follow the process/legislation put by yourselves therefore they cannot realese the remaining balance for anything except if I were to die. Treasure I am humbly asking for your mercy. My home is on a very of being taken away from me, I don't have any other income and I am at the age where I am unemployable. In my plea to them was that even if they release the funds and pay them to my Homeloan directly I would be grateful. I am willing to give them my Homeloan account number and they can pay those funds directly to the bank involved. Currently my Living annuity stands at R181000.00 ( one hundred and eighty one thousand rands only) apparently your rules say one can get the full payout if it's sitting at R125000.00( one hundred and twenty five thousand rands). I am not far away from this figure. Where will I go at 65 years, I don't have anybody else to assist me. Will you kindly reconsider and have mercy on me. Like I said the funds can be made to my Homeloan directly. I baught this house late in life hence I am still paying for it. Thank you.
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