Confidentiality breached? Old Mutual sets the record straight in Molefi case

by Staff Bona

After topping the trending list following the expressed grievances made by X (formerly Twitter) user Sebabatso Molefi, Old Mutual released an official statement to set the record straight. However, some feel that too much information concerning the case was provided.

It all started when Sebabatso took to the app to share her frustrations aimed at the insurance and investment group. She wrote:

“Dear @OldMutualSA please advise why you are refusing to release my mother’s money even though a court order has been provided. You are in contempt of court, and I am about to lose my cool right now.”

The above post prompted other internet users to share similar experiences with the company, including Grammy-winning artist Zakes Bantwini, who claimed Old Mutual had only paid out R380 for his mother’s burial.

After Sebabatso shared in a statement that she and her legal team met with Old Mutual, the insurance giant released a statement of their own.

The statement read:

“We have been reluctant to talk about matters between two individuals, however, based on the public interest in this matter and the damage to our reputation, we are of the view there is no alternative but to provide specific context to this case.”

Old Mutual shared that the matter involved a divorce decree on pension assets that was received after a customer’s retirement was processed. However, they were not informed about the customer’s marital status at the time of processing his retirement.

“At retirement, a portion was taken in cash with the remainder paid into an annuity as legally required by the pension funds act.”

The statement then goes on to explain the operations of post- and pre-retirement and shares that it was always their intention to facilitate the settlement between the individuals involved.

Despite sharing their side of the story, many social media users felt that Old Mutual overshared personal matters.

One user commented, “So, Old Mutual is bigger than a court order? What happened to the confidentiality of matters between you and your clients? I hope they sue you guys until you reimburse what you don’t want to pay them.”

Another X user stated, “No privacy for your clients whatsoever, this is disturbing!!! What happened to professionalism???? Surely there is a better way to voice your side of the story than this.”

While another said, “These individuals always manage to find excuses to avoid paying their clients. It’s absolutely disgusting to see this behaviour coming from your team! By sharing private client information with the public, you’ve lost the respect of your clients.”

Also see: Sebabatso Molefi shares feedback on the Old Mutual saga