Phoenix Life and Standard Life

Albermarle

My experience with Standard Life service for my personal pension has been very good . I like the functionality of their website, and their response to e mail queries and telephone calls is always very quick and helpful.
However I am concerned that their new owners , Phoenix Life , seem to have a reputation for cost cutting, poor customer service and no digital offering/website.
I am wondering if anyone has got an opinion on this change of ownership, and whether I should be taking into account in my future planning , a possible slide in SL's service/offering in future?
( I know some parts of SL pensions have not been sold but the DIY personal pension I have has definitely been part of the sale)

dunstonh

However I am concerned that their new owners , Phoenix Life , seem to have a reputation for cost cutting, poor customer service and no digital offering/website.

I think that is a very unfair reputation. Indeed, they have actually improved a lot of the servicing and quality documentation in many of the legacy companies.

Most of the insurers they have bought had no internet interface. Those that did are still available.

I wouldn't be too worried about negative changes at this stage. And if it happens, you can be out of there in less than a week. Plus, Phoenix is contracting Standard Life back to run a lot of the pension side still.

Albermarle

Thanks for your useful comments .
Searching Google I came across a couple of websites where FA's exchanged opinions, and some where quite negative about Phoenix, so good as a SL customer to see a more positive view .

dunstonh

Searching Google I came across a couple of websites where FA's exchanged opinions, and some where quite negative about Phoenix, so good as a SL customer to see a more positive view .

Phoenix tend to maintain the systems and offices of the closed life companies for a number of years. The problem is that many of those closed life companies are usually the worst ones for admin. So, that carries on in the early years of Phoenix until they can find a way to move it to one of their other systems/units.

They have bought some of the worst companies out there for admin. Obsolete systesm. Out of date call centres run by poorly trained staff. They cant change things overnight. They normally look to move the polices onto one of their other systems but it can take a very long time. So, it's no surprise to see negative comments about the policies handled out of those old life companies. The real knowledge comes from knowing the issues and the reasons why.

if you were with a rubbish legacy company going to Phoenix it would still be rubbish once it got to Phoenix and a good years more after that. If its a good company going to them then it will remain good.