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Deborah M
Active since Dec 2021
3
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3 reviews46 months ago
CROOKED LAWYERS
Beware of using Just Answer Lawyers because when you think that you will get a simple opinion for a "small fee" of only R15 you will also be charged a members fee of R781.00 per month until you cancel you membership
0 replies
53 months ago
Shocking fees charged by Momentum Retirement Annuity Fund
Further to my previous complaint about Momentum i received a response from Momentum saying that the Pension Fund Adjudicator stated that it does not have jurisdiction to change the percentage of fees charged by Momentum and confirmed that Momentum Retirement Annuity Fund had complied with the stipulated regulations in terms of the Long Term Insurance Act However neither Momentum nor the Pension Fund Adjudicator have provided any explanation as to Fund Administration Fee of 1.86% and the Commission Amortisation Fee of 3.75% ( a total of 5.61%) charged for the year ending 10December 2020 and of particular concern is that over that period the Funds under administration only produced a return BEFORE FEES of 0.4%
0 replies
53 months ago
Momentum rip off
I have been invested in a Momentum Retirement Annuity for 14 years and was told that my Fund Performance was 7.6% annualised , only to find out that my net return after fees is only 3.2% annualised The fees are over 4% per annum and amount to more that half of the return of the assets Is this a rip off or what????
106 replies
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