Transfers FROM Vanguard, what's the deal please?

Lifematters

granta said:

Lifematters said:

granta said:

Lifematters said:

I transferred SIPP from Vanguard to my works CS pension. It took over a year and finally completed a few days before Christmas. 

Vanguard paid me £700 due to their mishandling but I believe I lost more because of the delays.  I have complaint with ombudsman which I started around August 2023.

Did they ever explain what the cause of the delays were? And has the FOS responded or still in a queue? I'm wondering if they can do anything if you've already accepted a compensation payment but I don't know how these things work.

Throughout the transfer process I was given different reasons for the delay, some of which were lies. When the complaints team investigated they accepted there were many failures on their part. 

I did not accept any compensation from Vanguard, they just paid the money into my bank account.  I’ve not yet heard anything from FOS but I did update them when the transfer completed a few weeks back

Thanks. Did the complaints team start investigating before the transfer completed? They've said to me they will only do so after the transfer completes. Quite different from other providers where a complaint has stimulated some urgency and action!

They started investigations when I made the complaint but told me they couldn’t finish their investigation until transfer had completed. They did give me the 8 week update about referring to FOS. 

incus432

Had high hopes for Vanguard but they have proved to be truly terrible at basic admin and communcation. My transfer took over 4 months a complaint and repeated nudges. Then interest and divs were added which they needed to be told to transfer as well.  

Their website is just awful too.including the fact it keeps throwing me out and simple things like adding to a holding turns into a nightmare of multiple menus questions and options.

AJ Bell are infinitely better

GeoffTF

incus432 said:

Had high hopes for Vanguard but they have proved to be truly terrible at basic admin and communcation. My transfer took over 4 months a complaint and repeated nudges. Then interest and divs were added which they needed to be told to transfer as well.  

Their website is just awful too.including the fact it keeps throwing me out and simple things like adding to a holding turns into a nightmare of multiple menus questions and options.

AJ Bell are infinitely better

Yes, but you are comparing a good service with one that is pants. Why they did not copy a successful platform I do not know. Making everything difficult and complicated must generate a huge customer support load.

Rich1976

incus432 said:

Had high hopes for Vanguard but they have proved to be truly terrible at basic admin and communcation. My transfer took over 4 months a complaint and repeated nudges. Then interest and divs were added which they needed to be told to transfer as well.  

Their website is just awful too.including the fact it keeps throwing me out and simple things like adding to a holding turns into a nightmare of multiple menus questions and options.

AJ Bell are infinitely better

Yes. Your first paragraph was exactly the same for us. The pension had been transferred back to HL a few months before and it was only when Vanguard emailed to say a statement was ready that it was apparent that they had received the final months tax relief after the rest of the transfer but hadn’t bothered transferring it.

Aminatidi

I'm still getting a SIPP theme more than an ISA them so far?

Aminatidi

Well just to put this one to bed I put in a transfer request on 14th to IWeb and the transfer completed today.

I'll take that 👍🏻

granta

Aminatidi said:

Well just to put this one to bed I put in a transfer request on 14th to IWeb and the transfer completed today.

I'll take that 👍🏻

Good to know. My SIPP transfer has just completed too after 11 months.