Prudential Pension

This company has done nothing but mess me about. Its been going on for over 6 months, over 50 phonecalls and I'm still no further than I was. Anything to avoid paying out eh Pru. What went so wrong, they used to be good and actually care about the client. If anyone that works there actually bothers to read these, shame on you, for making life so hard for people that are more than likely already going through a very hard stage in life

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I was mis sold a pension by Prudential in 1981. But, because this was pre-regulation time, I discovered that there was nothing I could do about this, and continued paying into this, as advised by them, otherwise i would have lost 10 years' of payments. Through the years, I never managed to get a first time straight answer to anything from them. Now it is time to take out this pension. I have been trying since October 2019 to get an actual quote of what I was due: keep getting long (5 page +) letters showing ‘illustrations’, ‘estimates’ but no hard facts. Every time I try and ring have to wait a minimum 45 minutes to get through (minimum 20 minutes pre Covid) and never manage to get a straight or useful answer, again. The irony is that, if one tries to contact them through their online portal, they are advised to ring ‘for quicker response’!!! I now have engaged an IFA to chase them. He found out that the documents I was sent did not include a product code, apparently essential. Again, tried to ring them to request this: was told that I was placed on a ‘waiting list’ to call back ‘about 15 days call back time’! looking at this thread, it is obvious that they are doing everything possible to stall the cashing of the policies. And, on top of that, they informed me that I cannot access my funds without first having proof of having received ‘financial advice’, which would cost about£5,000 (pay that to get my money!!!). Funny though how they seem to be quick and on the ball when it comes to online PR: quick with platitudes there. Unacceptable!!!

I have a pension with profits I was told the bonus was the same as last year and would be added to my funds but prudential took £1000 off my pension I have complained twice to customer service prudential don't want to reply and explain why this is has this happened is there other investors this has happened to can anyone shed some light on this for me.

I phoned the Pru up to get some information about my Prudential pension, I explained that I only wanted some basic information and was not in the market to buy or take anything, they said that they would look into my issue and get back. I then got a letter to tell me that a rep was going to call. In due course a couple of guys arrived and went straight into a high pressure sales drive, I kept telling these 2 spivs that I wasn't interested but they just kept right on going. I never got any of the information I wanted and eventually I had to ask them to leave. These 2 guys were a disgrace, totally uninterested in my issue just pressuring me all the time to sign their forms so they could get a commission on something, they ignored everything I said and for sure told several obvious lies to try and trick me into signing their forms. This experience left me feeling very angry and I won't waste my time contacting the Pru again if I can help it.

If your thinking about a pension my advice is never do 1 when you first take it out the figures look good 35 years later there a joke all those years you struggled to pay it on minimum wage the government will take the best part of it when you paid £120 a month's for 35 years when you are 65 you will be lucky to get £80 a month I always advise people to do a pension how wrong I was you're paying for the man at the Top a massive salary 4 weeks holiday company car these people will do the best thay can do 2 keep you it's a bit like a fruit machine someone's got to pay the electric bill to run it

I am now in my seventies and turned my Prudential policies into two annuities ten years ago. The figures were so bad I took it to the Ombudsman, it did increase figure, but I still thought it should be more so Appealed against the decision to no avail, they said accept. Now, 10 YEARS LATER, Prudential have come back to say they owe me money - a derisory sum worked out at 1 percent interest, and they clam up when asked to give full details. I went through all this stress 10 years ago and they think nothing of doing it a second time round. What I'd like to know is how well does the Ombudsman investigate? Prudential show no client respect or care when it comes to their mistakes.

I worked for the BBC for many years and at one point went on a short-term contract with one of their charities. They put me into a pension scheme with the Prudential, the BBC contributing as well as me personally.

I put this pension on hold when I rejoined the BBC full-time as I began paying into the main BBC scheme. I was not allowed to transfer the Pru money across.

Now I am 55 it is proving almost impossible to get this relatively small pension pot with Prudential paid as a lump sum. I know part of it will be taxed, but there is no point in taking an annuity as it is so small.

The BBC managed to pay my pension annuity on my birthday with no problems. A final salary pension annuity I had with another employer, paid without issue on my birthday.

Not Prudential! When I made my initial call several months ago, they would not discuss anything because apparently I didn't know my first name. I had to send them a copy of my birth certificate to prove they had made a mistake. They tried to blame the BBC for supplying the information - the same BBC that had employed me since 1990 and had always known my name! This took two weeks to sort out. Then Prudential said I couldn't do anything until my birthday - obviously rubbish but I waited until closer to the date.

Each time I called, the pension value fluctuated dramatically. It is now two weeks since my birthday, they still can't tell me how much I will receive (except give a one of the wildly fluctuating estimates), or exactly when it will be paid.

Apparently they are very busy since the referendum. Hmm sounds like a poor excuse to me.

Not impressed as the other pension companies have been helpful and very efficient.

The customer service is non existent I have a very small pension with this company that was due to pay out on the 30th September I am still waiting I have contacted them on a daily basis to be told somebody will ring me back this never happens

When I asked for the name of the CEO so I could put a complaint in writing I was amazed to be told to hold till they went to find out who that person might be!

Everyday I am told that some mysterious back office is dealing with my request what they need to realise is that this is my money they are dealing with and not their own.

I will make my daily phone call now and if nothing is forthcoming I will be of to the small claims court this afternoon.

AVOiD LIKE THE PLAGUE

Do not trust any of the financial institutions to 'look after your money', the Pru is just as bad as the rest.

25 years into my Prudential personal pension and the transfer value would not even buy me a decent car, let alone retirement income.

Once they have you locked in, it is an exercise in confusion. Keep using your money to make money, but try not to let you have any of it back.

There might be a promise of a terminal bonus, but all this does is to lock in the existing catch they have.

Seriously, I suggest that you just put your money into an ISA account where you have complete control. If you like a bit of risk take out the stocks/ shares version, if not just stick with cash.

I would call on all employees of financial institutions to examine your conscience. If you work for the Pru or any of the banks you really should consider leaving and move to a more ethical business.