No ‘piece of the pie’ for me
MY NAME IS Carole Wengerek and my divorce was finalised on 8 August 2008 after five years of litigation. I read Ruan Jooste’s report headlined “Love is grand” (25 December 2008) with great interest. I thought I’d share with you the outcome of my settlement divorce re the pension fund with Momentum.
My ex-husband is a member of the Momentum Administration Services Retirement Income Option (compulsory annuity). The value was R2 229 173 as at 7 July 2008. I was entitled to receive R1 343 889 of that fund. That amount was to be transferred to me.
Before the settlement agreement/divorce order was signed by my ex-husband and me, my advocate conferred with a “legal” adviser from Momentum to ensure that this could be done. I was present in his chambers when he spoke to the legal adviser.
On 11 September 2008 Momentum sent a letter to my advocate advising him that “despite our initial indication that we could give effect to your request, you are advised that we are prohibited from doing so by current legislation”. I also found out that my exhusband withdrew from the fund a month or so before the divorce was finalised.
I feel that Momentum erred in its interpretation of the said handling of the retirement fund and it should rectify the matter. I now receive a monthly interest from my ex-husband.
I can’t afford to take up this matter with Momentum, as I don’t want to be involved with any more legal procedures/costs.
I didn’t get “my piece of the pie” and I thought I’d share my story in response to your report. CAROLE WENGEREK