The Great Pension Withdrawal Scandal (Aviva)...

green_man

Aviva is certainly not alone with with these time scales. 

I have been through similar delays with withdrawals and the level of clunkiness is remarkable.  New Pension freedoms have been in place for plenty of years now, such that the companies should have been able to migrate from older systems to ones that better match the requirements of modern pensioners.  Many of the delays are down to the checks that the FCA have introduced to protect people from making the wrong decision or being scammed, so that aspect is understandable. 

Hopefully market forces will push companies into streamlining the processes more over the next few years, in particular as new pensioners become more and more tech/internet savvy.

Albermarle

green_man said:

Aviva is certainly not alone with with these time scales. 

I have been through similar delays with withdrawals and the level of clunkiness is remarkable.  New Pension freedoms have been in place for plenty of years now, such that the companies should have been able to migrate from older systems to ones that better match the requirements of modern pensioners.  Many of the delays are down to the checks that the FCA have introduced to protect people from making the wrong decision or being scammed, so that aspect is understandable. 

Hopefully market forces will push companies into streamlining the processes more over the next few years, in particular as new pensioners become more and more tech/internet savvy.

AS explained in posts above, the way to streamline the system is for the customer to request a move to a more modern pension version. Or maybe the providers 'nudge' them in that direction.

ian16527

Albermarle said:

NSG666 said:

If Aviva have gotten you so worked up then I hope you have nothing with Mercer or your head is going to explode and you will die!

100% agree. If Mercer even respond to a query/e mail in 30 days , it seems like a miracle !

I am currently moving an AJ Bell SIPP to Vanguard, and 2 weeks ago the money vanished but as yet no sign of it reappearing in Vanguard, I would expect it to appear in the next week (hopefully) but that got me thinking about the Mercer transfer I did last year. I think it was over 3 months with several phone calls and no response to emails.