Problem with LGPS AVCs with Prudential

jamjar92

stephenadarglas said:

My wife's January payment (15th) was invested today.

Feb's should have been posted by now according to the scheme rules.

Rich2808

marycanary said:

Prompted by this thread I checked my AVC record online and found that the last few months contributions had not been credited. I emailed the Pru to complain; not because I was particularly worried but, "just in case." I received a phone call from a very nice lady who told me not to worry, the problem was a new computer system and it would all soon be resolved. She then asked if she could close my complaint. I advised I was not worried but I would prefer the complaint to remain open until the contributions were added,  We then went round and round saying the same things a few more times until she eventually said that she would refer my email to the complaints team.
Yesterday I received two letters from the Pru. One saying they upheld my complaint, they had credited the contributions to my account and had awarded me £125 for the inconvenience. The other contained a cheque for £125. I have checked and my contributions up to February are now showing.
Had I not seem this thread I would not have checked or made the complaint. If there is anyone with money that has not been credited it is certainly worth sending a complaint email and then refusing to cancel it when pressed to do so by the Pru.

Lucky you - all I have had so far in response to my complaint is a letter giving me a complaint reference number and saying they would get back to me in four weeks!

Does make you wonder how many people are affected (many or most AVC customers) - as a lot of people don't have an online login so presumably just rely on their annual statement that comes by post. It could be a year before some people even find out there is a problem!
It really shouldn't be for policyholders to have to report a problem for the issue to be corrected - given it seems to be a widespread issue,
 

bioboybill

marycanary said:

Prompted by this thread I checked my AVC record online and found that the last few months contributions had not been credited. I emailed the Pru to complain; not because I was particularly worried but, "just in case." I received a phone call from a very nice lady who told me not to worry, the problem was a new computer system and it would all soon be resolved. She then asked if she could close my complaint. I advised I was not worried but I would prefer the complaint to remain open until the contributions were added,  We then went round and round saying the same things a few more times until she eventually said that she would refer my email to the complaints team.
Yesterday I received two letters from the Pru. One saying they upheld my complaint, they had credited the contributions to my account and had awarded me £125 for the inconvenience. The other contained a cheque for £125. I have checked and my contributions up to February are now showing.
Had I not seem this thread I would not have checked or made the complaint. If there is anyone with money that has not been credited it is certainly worth sending a complaint email and then refusing to cancel it when pressed to do so by the Pru.

Wow! You have been very fortunate. I and many others have swapped many messages with CS and spoken on the phone, but got nothing but excuses and promises to fix this urgently. I have had 2 letters. The first said they would complete their investigations in 4 weeks. After 4 weeks a further letter said it would take up to another 4 weeks, but they may ask for more time after that. Some have been fighting for their money since July!

Since I started the thread I believe I’m due commission on your £125. 😂 

bioboybill

Anybody else had any luck with these clowns? Still nothing showing after the end of November’s payment on December 4th for me. 8 weeks tomorrow since I complained. On to the Financial Ombudsman next, although they take about 3 months before they do much. The level of protection does seem quite feeble to be honest.

John1965

Checked my online account and missing payments have appeared. This has been on going since Sept last year therefore a 6 month timescale to resolve. I had a complaint lodged and it might be a factor in them getting their act together. My confidence in Prudential has been shaken and I am questioning their ability to manage an important part of my long term pension planning.
I think best advice would be to keep badgering them and keeping concerns highlighted through this forum. 

OldBeanz

Payments are now there. Just that the wife has tried every month since September to increase her payments and they will not go through for this year. We tried this week to change the amount again for next year and this succeeded then came up with an error message. An hour on the phone did not elicit a human being. I have also gone through their portal for the information they hold on me. They are required to provide that within 40 days and failure to respond could lead to a fine. My complaint is with the financial ombudsman and I am reaching the 4 weeks response to the complaint they subsequently opened (their expected response time) as they ignobly tried to ignore my initial complaint.
I have no doubt that the chaos has ensued from merging legacy systems but blaming everything on Covid a year down the line shows poor management. Why have they not addressed this directly rather than hoping no one notices.
Complaints have been raised with the LGPS but they appear to be very quiet on this matter.

billywhizz1966

My wifes were brought up to date on 4 March which is positive. She is also looking to increase her amount for next year and is awaiting a reply back from them as ringing didn't work. Not great at all but we will persevere. I will get her to check back on line to see if the online feature is working     

bioboybill

Glad to hear some others are finally getting updated, but still no payment showing after November here and I have been hounding them for 8 weeks. By the look of it the Financial Ombudsman service is so slow and useless the Pru just don’t care if you complain to them. Contrast their service to Hargreaves Lansdown who answer my wife via their message service within 24 hours without fail and get paperwork to her within 24 hours.

Delilah31

I too am experiencing similar problems following early retirement on the grounds of ill health in December 2020.  My December payment is not showing with Prudential, despite having being released by my ex employer.  I have had limited success in contacting Prudential and have sent two secure messages with no response.  Having read the threads relating to this matter on this forum, would I be best to make an official complaint?

bioboybill

Yes, definitely. They probably won’t do anything, but you need to give them 8 weeks after complaining before you can go to the Ombudsman.