Fund holder won't sort my pension pot.

dimer

hi - my private pension fund (50k) matured at the beginning of march.

i waited about 4 weeks & then contacted the fund provider to ask what was happening.
they said information was posted but i informed nothing was received to date..

nothing has been signed regarding my pension arrangements but when i phoned they said the 25% tax free was being processed for transfer to my bank & i should receive it within 10 days..
also, when the transfer is confirmed i should then send them my p45 etc to arrange the draw-down i require.

unfortunately, i've been told similar to above each time i've phoned & i'm now becoming quite concerned & feel i'm getting the runaround.

it's a pity i can't name the company as others might have had similar issues..

can anyone please advise regarding?

PensionTech

Why can't you name the company?

xylophone

http://www.pensionsadvisoryservice.org.uk/ might help.

You haven't given signed instructions but the company is simply proceeding without them?

dimer

PensionTech wrote: »

Why can't you name the company?

is it not contrary to forum rules?

PensionTech

is it not contrary to forum rules?

Not to my knowledge and I double-checked them after reading your first post. Others frequently post about individual companies on here and indeed sometimes the companies reply with an apology and information about how to resolve the complaint. As long as it's not considered marketing, I think it's fine.

It would be helpful to know which company you're talking about because we might be able to point you towards the best resolution route - or point out red flags if it looks like it might be a, shall we say, less than legitimate operation.

dimer

xylophone wrote: »

http://www.pensionsadvisoryservice.org.uk/ might help.

You haven't given signed instructions but the company is simply proceeding without them?

are you saying that the company might be proceeding with my pension arrangements without any signed instructions from me?

admittedly i have discussed the matter on the phone but thought some form of official confirmation would be required?

also would it be considered normal to wait 3 1/2 months without any action whatsoever on their part?

AnotherJoe

You need to name the company, there most definitely are not rules about not naming them companies are named all the time here.
Was this a scheme whereby you were paying in so they already had your bank details? Because otherwise how would they pay you and surely they wouldn't just take phoned instructions as to where to pay the money.
Did you ask them to post the information to you again? Are you sure they have your current address?

xylophone

https://forums.moneysavingexpert.com/discussion/comment/70708970#Comment_70708970

This pension is that to which you refer in previous posts?

Are you willing to name the company?

Drawdown is now being offered? On what terms?

are you saying that the company might be proceeding with my pension arrangements without any signed instructions from me?

admittedly i have discussed the matter on the phone but thought some form of official confirmation would be required?

also would it be considered normal to wait 3 1/2 months without any action whatsoever on their part?

Let us say that I have not come across any company that would not have provided full documentation/required written instructions, at the very least for a first payment - other posters may have done.

As for waiting for 3.5 months, there have been posters who have experienced long delays, but not without any explanation (or perhaps excuse would be a better term) - think of the MyCSP fiasco described a year or two back...

Nevertheless, it would appear that the administration of your pension is less than efficient.