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  • FIRST POST
    • fjh
    • By fjh 1st Jun 17, 6:26 PM
    • 68Posts
    • 7Thanks
    fjh
    Willis Towers Watson
    • #1
    • 1st Jun 17, 6:26 PM
    Willis Towers Watson 1st Jun 17 at 6:26 PM
    Just found out the administration of my FS pension is moving to this company this year
    Any one know if I will be able to view say Transfer value online?
    And what service is like?
    Albeit I don't have a choice in the matter .
    Thanks
Page 1
    • worried jim
    • By worried jim 1st Jun 17, 6:36 PM
    • 8,643 Posts
    • 13,178 Thanks
    worried jim
    • #2
    • 1st Jun 17, 6:36 PM
    • #2
    • 1st Jun 17, 6:36 PM
    We started using them at Lloyds Banking Group last November to administer our staff pensions and so far I have been impressed.

    It's a great easy to use portal and very easy to see fund performance. I can clearly see the value of all my funds.
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • PeacefulWaters
    • By PeacefulWaters 1st Jun 17, 8:00 PM
    • 6,997 Posts
    • 8,604 Thanks
    PeacefulWaters
    • #3
    • 1st Jun 17, 8:00 PM
    • #3
    • 1st Jun 17, 8:00 PM
    Just found out the administration of my FS pension is moving to this company this year
    Any one know if I will be able to view say Transfer value online?
    And what service is like?
    Albeit I don't have a choice in the matter .
    Thanks
    Originally posted by fjh
    CETV was sent by post and took about eight days to arrive the three times I needed one.

    Lots of good online functionality but not instant CETV.
    • craig1912
    • By craig1912 1st Jun 17, 8:39 PM
    • 21 Posts
    • 13 Thanks
    craig1912
    • #4
    • 1st Jun 17, 8:39 PM
    • #4
    • 1st Jun 17, 8:39 PM
    My Wife is with Lloyds and has nothing but problems with them. They have been shocking- taking weeks to respond to any FS query. Last time it took a complaint for them to respond. Latest has taken six weeks to give her some options at an early retirement date. Very poor
    • GSP
    • By GSP 1st Jun 17, 8:53 PM
    • 138 Posts
    • 23 Thanks
    GSP
    • #5
    • 1st Jun 17, 8:53 PM
    • #5
    • 1st Jun 17, 8:53 PM
    Peacefulwaters, I am able to get a CETV quote online from the system each day.

    Could be there are different sites depending what institution you are in, but if you see "select an event", it will be in there after a few clicks.
    • TcpnT
    • By TcpnT 1st Jun 17, 9:02 PM
    • 36 Posts
    • 21 Thanks
    TcpnT
    • #6
    • 1st Jun 17, 9:02 PM
    • #6
    • 1st Jun 17, 9:02 PM
    The only quick response I have had from them is when I requested a CETV. Otherwise they are painfully slow to respond to any enquiry. I find there is more chance of getting a helpful response if you phone. I have also been misinformed by them several times about details of benefits. Seems especially bad when trying to pin down accurate info about DB scheme. I get the distinct impression that their administrators are trying to deal with multiple DB clients at once and sometimes get the details mixed up between them.

    My company is in the process of moving scheme admin across to Mercer
    • TcpnT
    • By TcpnT 1st Jun 17, 10:13 PM
    • 36 Posts
    • 21 Thanks
    TcpnT
    • #7
    • 1st Jun 17, 10:13 PM
    • #7
    • 1st Jun 17, 10:13 PM
    My DB pension is deferred and it has never been possible to get an online CETV from WTW
    • MEM62
    • By MEM62 2nd Jun 17, 10:39 AM
    • 1,356 Posts
    • 971 Thanks
    MEM62
    • #8
    • 2nd Jun 17, 10:39 AM
    • #8
    • 2nd Jun 17, 10:39 AM
    A very reputable and long standing company.

    Willis were the insurance brokers for the Titanic :-)
    • agarnett
    • By agarnett 2nd Jun 17, 11:54 AM
    • 1,282 Posts
    • 535 Thanks
    agarnett
    • #9
    • 2nd Jun 17, 11:54 AM
    • #9
    • 2nd Jun 17, 11:54 AM
    They are very big and ugly and no doubt rub shoulders with Goldman Sachs and others who are also extremely interested in manipulating our pension funds from all angles imagineable.

    WTW employ a mixed bag of humans (I can say that because I plug in to them via a number of diverse teams handling different pension schemes in which I have an interest).

    Some of those humans are nice people who behave in pro-active and caring ways when they can get away with it against the prevailing corporate cultural trends (generally at the lower levels of course), but no doubt WTW will be running those types down and in preference employing Artificial Intelligence more and more in order to manipulate funding strategy for their corporate principals using such things as "requests for CETVs" as movable dials - meaning that depending on the scheme and whose motives it serves most, you'll get access to info quick or slow, and you'll get CETVs which are generous or not generous, and you'll find your pension gets used as a comfy cushion and flak-jacket for corporate and other big-money protection when markets get wobbly.

    Yer pays your money and yer takes your choice chance
    • GSP
    • By GSP 2nd Jun 17, 1:30 PM
    • 138 Posts
    • 23 Thanks
    GSP
    Found out from them if you can get access to their online system and run off the CETV figure with supporting papers, this is also good for 3 months.

    Saves requesting a pack and paying maybe £300 a time if you request a year before your last figure.

    Obtaining the figure daily and saving the report, you can also choose the highest figure to be used for when the transfer goes through.
    • TcpnT
    • By TcpnT 2nd Jun 17, 4:46 PM
    • 36 Posts
    • 21 Thanks
    TcpnT
    They obviously provide a range different online facilities to different clients - for my scheme all I can see is the original deferred value of my DB pension but no other useful options
    • agarnett
    • By agarnett 3rd Jun 17, 5:35 PM
    • 1,282 Posts
    • 535 Thanks
    agarnett
    They obviously provide a range different online facilities to different clients - for my scheme all I can see is the original deferred value of my DB pension but no other useful options
    Originally posted by TcpnT
    Indeed their major pension scheme clients are numerous and the following is not an exhaustive list and in no particular order:

    Barclays Bank
    BASF
    ICI
    Lloyds Bank
    Ernst & Young
    Sainsburys
    IMI
    United Utilities
    Sky
    Maersk
    Vodafone
    HSBC
    AksoNobel
    SocieteGenerale
    HBOS
    Bank Of Ireland
    PensionsIreland
    Oracle
    IKEA
    DuluxGroup
    RoyalSunAlliance
    Dow Australia
    Reserve Bank of Australia including Australia Prudential Regulation AUthority
    Huntsman
    Bayer TRS
    Incitec Pivot
    Hewlett Packard
    Meat & Livestock Commission
    Citibank Australia
    MARS Deutschland
    Coca Cola
    Syncrude
    Greyhound Canada
    Koch
    Alcoa
    Community Medical Centers (California)
    Martin Marietta
    Lincoln Electric
    TransCanada
    British Airways (USA)
    Ineos USA
    PepsiCo Canada
    Woods Hole Oceanographic Institution
    Berkshire Hathaway Energy
    Harley Davidson

    And with that last one, I'm on my bike for this evening!

    In fact, the list is inevitably no more than the tip of an enormous iceberg - they have websites in 43 different languages!

    I wonder how they keep it all secure
    Last edited by agarnett; 03-06-2017 at 5:37 PM.
    • atilla
    • By atilla 7th Jun 17, 4:33 PM
    • 823 Posts
    • 700 Thanks
    atilla
    They are pretty poor with admin when transferring pension out.
    • jacks2017
    • By jacks2017 6th Oct 17, 9:55 AM
    • 1 Posts
    • 0 Thanks
    jacks2017
    My RBS pension was moved to them, and I have had no end of problems in getting my retirement projection. 2+ months down the line, countless generic letters later, promises of emails and phone calls to update me on the progress, still nothing.
    I was told 4 weeks ago there was a problem with the automated system and it would have to be done manually, today I am told my situation was unique, but still no answer as to when it would be done!
    • fjh
    • By fjh 6th Oct 17, 1:57 PM
    • 68 Posts
    • 7 Thanks
    fjh
    I too work for RBS and I am having a Nightmare trying to get transfer value for AVC been waiting SIX weeks, I have chased, my IFA has chased - it’s a disgrace and they are not interested 😡😡
    • Dorian1958
    • By Dorian1958 6th Oct 17, 2:38 PM
    • 90 Posts
    • 56 Thanks
    Dorian1958
    My deferred Rio Tinto pension is with them. No online functionality. Phoned for a CETV and this took 2 weeks to arrive. No problems thus far. Now slightly worried about admin if I decide to transfer.
    • The_Doc
    • By The_Doc 6th Oct 17, 4:36 PM
    • 28 Posts
    • 24 Thanks
    The_Doc
    My company schemes are now with WTW and I too have not been impressed. Website is poor and response from admins has been very patchy, sometimes taking complaints to scheme trustees to get things moving.

    But given the number of schemes they manage which will all have different rules, then maybe they have an "excuse". Or maybe they are just under-resourced for the tasks in hand.

    Responses to email requests have been particularly poor, so suggest using the phone and keeping records of conversations and chase up regularly. :-(
    • fjh
    • By fjh 11th Oct 17, 7:00 PM
    • 68 Posts
    • 7 Thanks
    fjh
    Finally received AVC transfer value SIX WEEKS to gain
    What poor service and no apology
    • atilla
    • By atilla 11th Oct 17, 7:37 PM
    • 823 Posts
    • 700 Thanks
    atilla
    Watch out for dodgy tricks when and if anyone transfers out.
    Conveniently reducing transfer value contrary to the 'roolz' and agreements.
    Unfortunately for them, emails, PoDs and phone recordings caught them out.

    Wouldn't trust them with a barge pole.
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