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Trouble getting info from pension provider

Grayselegy_2
Grayselegy_2 Posts: 1 Newbie
I asked my pension provider for a simple thing - the percentage growth in my fund over the last 12 months. They are a reputable provider.

They sent me 75 (seventy-five) pages of line-by-line data since I joined their scheme in 1988. (It is my SERPS opt-out scheme).

I followed up by asking them again, and said that from the data they provided, the growth was only 2.6%, and could they verify that.

Is their behaviour suspicious? They acknowledged my original question within a day, and sent me the 75 pages within two weeks, but they seem VERY reluctant to give me the growth number.

I check the pension fund online, and it appears to grow by 4.7%, but there may be end-of-year charges etc.

Comments

  • dunstonh
    dunstonh Posts: 121,122 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Is their behaviour suspicious?

    Not really. Just typical of using staff who dont answer questions asked as they dont know what you are asking. IFAs get it all the time. I have had to chase up three insurers in the last week who were asked bullet point questions but failed to answer them. In all three cases, giving me something I didnt ask for and not even close to the subject I was asking for.
    but there may be end-of-year charges etc.

    Why would there be end of year charges?
    but they seem VERY reluctant to give me the growth number.

    I would have expected them to give you a copy of the fund factsheet or refer you to the website that contains them. It is probable that they do not have the software to give you the exact growth rate for you. So, the factsheet would be the closest thing.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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