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Prudential
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alang291
Posts: 2 Newbie
Anybody got any idea what is going on at Prudential? They are taking forever to transfer a pension pot (the other two transferred ages ago). Can't get through on the phone, they don't answer e-mails and most importantly are hanging on to my money. Are they in trouble? Be interested to know if others are having similar problems.
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Anybody got any idea what is going on at Prudential? They are taking forever to transfer a pension pot (the other two transferred ages ago).
What type of Prudential plan is it? Is it their retirement account (in the Prufund) or one of their personal pensions from the 90s or an earlier plan with safeguarded benefits that may have to go through a different team for checking?
Can't get through on the phone, they don't answer e-mails and most importantly are hanging on to my money. Are they in trouble?They are certainly not in trouble. However, their service standards have never been as good as they used to be following their move to Lancing.
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.0 -
How long is 'forever' ?0
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standard life transferred 15 Oct and Aviva 29 Oct.0
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Both Standard Life and Aviva are right at the quickest end when it comes to transfers. If they get the instruction on a Monday, they have often done the transfer by the Wednesday. Not many get close to those two on speed. Pru take much longer.
Is your transfer being done manually or using the Origo transfer system? (former is slower). Pru can use Origo but it needs both providers to be using it. Otherwise it defaults to manual and back to using discharge forms.
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.0 -
My wife has an AVC with them. Money went out of her wages on the 15th however still not showing in the plan, Same happened last month until she rang. Strangely enough the monthly fees went out ok though.0
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The fees would be deducted on the same day of each month and as Pru are in control of that, the date would be expected to be the same. However, the payroll at your company are responsible for paying the premiums to the pension and Pru have no control over that. Your wife's payslip gives no indication as to when the employer paid Prudential that month.stephenadarglas said:My wife has an AVC with them. Money went out of her wages on the 15th however still not showing in the plan, Same happened last month until she rang. Strangely enough the monthly fees went out ok though.
This is a different issue to that one that the OP has and on this occasion, it is almost certainly not an issue with Pru/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.1 -
Are people still having problems with the Pru?
DH wants to tee up a "small pot" withdrawal from them for early September and we're wondering when to contact them, and how long it might take.
Ideally we'd like the money asap, but at the very latest during this tax year!!!
Chances?How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)0 -
Are people still having problems with the Pru?
Some areas are. Some areas are not.
DH wants to tee up a "small pot" withdrawal from them for early September and we're wondering when to contact them, and how long it might take.Start early. Pru didn't supply the forms on the last one we did. We told them what we wanted, including the forms to do it. They sent the figures but then told us to request the forms if we wanted to proceed. We had to do that again in writing as their phone line is over an hour wait.
I would start now.
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.1 -
dunstonh said:Are people still having problems with the Pru?
Some areas are. Some areas are not.
DH wants to tee up a "small pot" withdrawal from them for early September and we're wondering when to contact them, and how long it might take.Start early. Pru didn't supply the forms on the last one we did. We told them what we wanted, including the forms to do it. They sent the figures but then told us to request the forms if we wanted to proceed. We had to do that again in writing as their phone line is over an hour wait.
I would start now.
Glad I asked. Forewarned is forearmed and all that. Cheers.
p.s. how are Phoenix life (ex NPI) ? 😉How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)0 -
p.s. how are Phoenix life (ex NPI) ? 😉
Phoenix out of Peterborough are actually very good. Indeed, probably better than they were in their legacy brand days.
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.1
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