NOW PENSIONS -worried about this provider

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  • hyubh
    hyubh Posts: 3,539 Forumite
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    Dox wrote: »
    What makes you think you'll fare any better elsewhere?

    Google 'NOW pensions regulator'...
  • stephen0007
    stephen0007 Posts: 1 Newbie
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    Avoid them ! This company, Now Pensions, has a dreadful reputation. i read in another thread of over 100 complaints they had been fined by the regulator. From personal experience they take your money but do not pay out. AVOID these people at all costs. you have been warned do not come crying later
  • dunstonh
    dunstonh Posts: 116,594 Forumite
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    Avoid them !

    Its a bit hard to as you only typically use them if your employer has picked them. You would be daft to turn down free money from the employer because of short term admin issues.
    AVOID these people at all costs.

    I totally disagree. It would be foolish to do that.
    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.
  • MEM62
    MEM62 Posts: 4,778 Forumite
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    stephen0007 wrote: »
    From personal experience they take your money but do not pay out.

    For the benefit of others, are you willing to elaborate on this experience?
  • MEM62
    MEM62 Posts: 4,778 Forumite
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    stephen0007 wrote: »
    From personal experience they take your money but do not pay out.
    MEM62 wrote: »
    For the benefit of others, are you willing to elaborate on this experience?

    I guess not then.
  • Microhead
    Microhead Posts: 52 Forumite
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    So an update, I requested NOW Pensions to transfer my fund away from them to a different provider, back in Apr 2018.
    To this day, this still hasn't happened even after I received a letter from them dated 30th Jan 2019, saying they would transfer it within the next 25 days!!
    I have emailed them and now threatened to take further action, if this was not completed immediately. Not sure what else to do.
  • molerat
    molerat Posts: 32,006 Forumite
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    Why had you not raised a formal complaint by July 2018 ? Why had you not gone to the ombudsman by September 2018 ?
  • Microhead
    Microhead Posts: 52 Forumite
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    Because I know the Pension Provider that I want to transfer my money to, have been trying to chase them as well, and hoped they might have more luck than I am getting at mo.
  • arnoldy
    arnoldy Posts: 505 Forumite
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    Just check that 0.3% charge. If OCF it wont include all costs (for example dealing). Also what is the fund invested in? if its other funds straight away you have layering of hidden charges.
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