Legal and General Won't Give Me My Pension Money - Anybody else had this problem?

djd1962

I have an old pension from over 10 years ago, which I paid into whilst working for a Guardian Media Group Company - it's been sitting there for over 10 years. Owing to recent unemployment, I've been trying to close the policy and draw out the money as a small pot payment to help us get through the next few months whilst looking for a job.

I've been unable to do this after 2 weeks of almost daily calls and e mails, filling in forms, sending the same form back 4 times, then chasing it up to be told they do not have it. I eventually called yesterday and told them I was not getting off the phone until I spoke to a senior manager - He finally got me the form I needed to get to stage 2 - where I get a quote of the figure and I tell them what I want to do, and provide proof of ID/Banking which I scanned and sent back today - I was supposed to be told today exactly how long it would take to get the money. Unsurprisingly, this hasn't happened. I called them just now and everybody had "gone home early". I'm now waiting for another call back - which over the last 2 weeks has never happened when they have promised it would.

Earlier this year I undertook a similar process with Aviva - took only 3 days from first call to payment. Somewhat different experience.

Could anybody tell me the name of the correct regulator/body for me to complain about their service? I notice from looking on various sites that the company have an awful reputation for customer service. It also seems to me that it is a deliberately difficult process, in order to stop people like me taking my money back.

molerat

You need to go through their internal complaints procedure before going to the ombudsman.

Brynsam

Aviva did an excellent job if they achieved all this in 3 days but I fear they've given you an unrealistic expectation of what 'normal' is in the Mickey Mouse world of pensions.

Pensions are not the same as (say) retail banking and things don't happen as quickly. I can understand why you are less than thrilled, but from the details you've given L&G have not breached any permitted timeframes, so the regulatory bodies won't be interested - and certainly not until you have exhausted L&G's own complaints procedure, which should be on their website.

dunstonh

Is the L&G plan an old occupational pension?

it may not be L&G holding things up but the administrators for the occ scheme. Occ schemes are notorious for being slow compared to retail schemes.

kidmugsy

dunstonh wrote: »

Is the L&G plan an old occupational pension?

it may not be L&G holding things up but the administrators for the occ scheme. Occ schemes are notorious for being slow compared to retail schemes.

But, but, but, dunstonh, that would mean that the Guardian Media Group Company is run by a bunch of hypocrites. Perish the thought!

Drp8713

I have worked for 4 large pension companies and the standard time they would take to do a retirement quote is 10 working days. Followed by another 10 working days once they get the forms back to prcoess the payment, then 3-5 days for the lump sum via BACS and anywhere up to a month for anything going through the payroll.

So a month or two from enquiry to payment is normal. Its not a bank account.

Dont waste any more of their time complaining. They are working on other people's pensions who joined the queue before you and are patiently waiting.

Dox

'2 weeks of daily calls and e-mails' - ever thought of leaving them in peace to get on with their work, which includes processing other people's pensions as well as yours? I appreciate you need the cash, but you are being far too impatient, particularly if - as someone else has pointed out - this is an occupational scheme, which has even more hurdles to clear than just cashing in a personal pension.

hyubh

kidmugsy wrote: »

But, but, but, dunstonh, that would mean that the Guardian Media Group Company is run by a bunch of hypocrites. Perish the thought!

Honestly struggling to understand what is potentially 'hypocritical' here. Running a consumer advice column? Being anti-Brexit? Running stores that brought down the Home Secretary...?