Problem with LGPS AVCs with Prudential

OldBeanz

bioboybill said:

Got a further letter from the Pru today. All it said was apologies that we haven’t been able to finish investigating your complaint within 4 weeks. We will write to you again in another 4 weeks, but we may need to tell you we need more time at that point. That’s strange since I have been promised on at least 3 occasions that it was being put right urgently and I should expect a call very soon. There is no investigation to be done. It’s all delaying 💩.

I have got them because I complained in December through their new website which they acknowledged and they haven't responded at all. I have taken my complaint to the Financial Ombudsman.

JohnWinder

Everyone affected reports their issue to the relevant authority, surely.

This is not out of petulance, malice, execration, rancour or bitterness, but because the regulator can do their job most effectively when the nature, extent and size of the problems in their bailiwick are known to them. And how much easier to find out than by receiving unsolicited reports? Everyone in the community benefits from having the regulator do their job well, including the individuals in Pru who may have some responsibility for these problems because they personally rely on other financial institutions for their personal banking etc.

OldBeanz

JohnWinder said:

Everyone affected reports their issue to the relevant authority, surely.

This is not out of petulance, malice, execration, rancour or bitterness, but because the regulator can do their job most effectively when the nature, extent and size of the problems in their bailiwick are known to them. And how much easier to find out than by receiving unsolicited reports? Everyone in the community benefits from having the regulator do their job well, including the individuals in Pru who may have some responsibility for these problems because they personally rely on other financial institutions for their personal banking etc.

The Pru are one of the UK's most respected financial institutions - solid and dull - something banks used to aspire to. There has been an issue with the LGPS site since September and it is only this week it has been half-heartedly acknowledged on the phone. The financial ombudsman requires them to resolve complaints within 12 weeks. They have a contract with the LGPS.

Gin_and_Milk

So it's not just me then.
I started paying into the AVC at the end of 2019, and I keep meaning to complain to the Pru as I've had the same issue as (many) others it would seem.  I got a letter a few months ago stated that they were migrating to a new platform and any issues should be sorted by then, but when I checked a few weeks ago, I was still short.
I got a small pay rise this month, and I had considered putting that straight into my AVC, however I clearly need to pull my finger out, contact the Pru and demand this be sorted before I even consider adding more.
I don't want to pull out of the whole scheme immediately, that would be an absolute last resort for me as I do this through SS, however if payments are missing there are absolutely no benefits to paying in at all.
Good luck folks. 

bioboybill

JohnWinder said:

Everyone affected reports their issue to the relevant authority, surely.

This is not out of petulance, malice, execration, rancour or bitterness, but because the regulator can do their job most effectively when the nature, extent and size of the problems in their bailiwick are known to them. And how much easier to find out than by receiving unsolicited reports? Everyone in the community benefits from having the regulator do their job well, including the individuals in Pru who may have some responsibility for these problems because they personally rely on other financial institutions for their personal banking etc.

The problem is probably far more widespread than the complaints being received, because a lot of people probably never check online. They just have the deductions from their pay and assume it’s going where it should. I’m only looking regularly because I’m expecting to retire in less than two years. When I spotted my problem I told two colleagues that are also in the scheme to check and they had exactly the same issue. If I hadn’t told them to check they wouldn’t know. As I said previously, there is far more wrong at the Pru than this web migration problem with AVCs. Their whole CS ethos with telling lie after lie and not paying people their pensions, crediting lump sums, paying terminally ill people stinks to high heaven.

intgomo

Just stumbled across this thread and can confirm that I have the same issue.  My complaint seemed to be getting some traction when I raised it back in December and, like some, I received a follow-up letter.  That said, I'm now getting stonewalled with no response to my online messages, and payments are still missing for the last 3 months.
Now that my need for catharsis is satisfied I will follow-up with the regulator.  Will post again here if/when I hear of any progress.  In the meantime, good luck to all, especially those with short-term requirements for the money. 

jamjar92

Gin_and_Milk said:

So it's not just me then.
I started paying into the AVC at the end of 2019, and I keep meaning to complain to the Pru as I've had the same issue as (many) others it would seem.  I got a letter a few months ago stated that they were migrating to a new platform and any issues should be sorted by then, but when I checked a few weeks ago, I was still short.
I got a small pay rise this month, and I had considered putting that straight into my AVC, however I clearly need to pull my finger out, contact the Pru and demand this be sorted before I even consider adding more.
I don't want to pull out of the whole scheme immediately, that would be an absolute last resort for me as I do this through SS, however if payments are missing there are absolutely no benefits to paying in at all.
Good luck folks. 

I would continue paying in to get SS relief, I am missing Jans payment and expect Feb to be delayed. I think it everybody in the scheme has the issue.

zippy1973

I just started an AVC with the Pru in October with the first payment due November. As like others, nothing appeared and on messaging I was informed they were upgrading systems. Novembers payment just appeared at the beginning of last week with December and January payment appearing on Friday all back dated apparently

OldBeanz

Today we wrote to our local LGPS authority asking them to raise the matter with whoever monitors the Prudential contract. I would suggest as many people as possible take the matter up through the LGPS as this will provide another point of pressure to have the Pru resolve the issues.

Laycity

For info both my December and January contributions are now showing online.