How do you choose your personal pension brand?

dunstonh

And reading the news about mis-selling pensions

Which was for a period between 1988 and 1993. Also, looking back, even the person that controlled the mis-selling review has said that with hindsight, far more people got paid redress then they should have. Also, no-one did it with malice. Even the Govt was promoting it as best option at the time. Actuaries frequently came back with opting out as being the best option. The main problem was the assumptions used were typical of the 70s and 80s and not of the 90s when it became apparent that trends were changing.

and some people totally lost their pensions with dodgy providers (not even registered with FSA),

I havent heard of anything like that.

That's why we were wondering whether others would have similar view :-)

IMO, brand name is irrelevant. Financial strength is more important along with quality of offering.

Rich1976

nathaliatj wrote: »

as newbies we would worry about choosing which pension providers or brands are trustworthy and would not bring us any hassle. Especially, if we would only experience the benefits 40 years later. If the charges are slightly higher but the companies are competent (based on what our IFAs say and other people say), we probably would not mind to pay slightly higher charges but we know that our pensions are save. That's our opinion. That's why we were wondering whether others would have similar view :-)

I know what you're saying. For example I try and only use companies which have at least an above average service level. I would never ever ever use Santander for anything no matter how good their product offering because I know based on expereinces of other people that their service I would receive would be dire at some point.

Equally when I used Legal and General for a pension a few years back, their administration was equally appalling - they lost paperwork or claimed they hadn't received it. Then it would take them ages to process the simplest transaction. So since then I have avoided taking anything out with them.

The companies I tend to stick to are the ones which have given me a good service even if they may be slightly more expensive but I stick to them because I don't want hassle and don't want to have to continually chase things up because I do enough of that at work without hassle in my finanical life too. For pensions I have never had problems with Standard Life or Hargreaves Lansdown ( which is the two I currently use). Other people like Scottish Widows.
I personally would avoid L+G, Aviva and Clerical Medical due to poor service from all 3 in the past.

cing0

Rich1976 wrote: »

I personally would avoid L+G, Aviva and Clerical Medical due to poor service from all 3 in the past.

Not my experience with L&G stakeholder product. Unlimited free fund switches. All manageable online with no more than 1.5% AMF. The 4 transfers in and one out I've done where all painless and quick (quicker than a cash ISA transfer).

dunstonh

Equally when I used Legal and General for a pension a few years back, their administration was equally appalling - they lost paperwork or claimed they hadn't received it. Then it would take them ages to process the simplest transaction. So since then I have avoided taking anything out with them.

Nothing much changed at L&G. They handle the simple stuff fair enough but are slow at everything else.