No ‘piece of the pie’ for me

Finweek English Edition - - Letters -

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

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