Vanguard pension - run a mile?

jcarver007

Looking for some feedback regarding the service from Vanguard Pensions. I have opened a personal pension with them however their communication seems to be non existent. I have tried to transfer workplace pensions into the Vanguard pension but the message  "Transfer not available for selected account". No reason given. All messages sent have been ignored and the online chat doesnt help either. Certainly doesnt instill confidence.

With calls to Vanguard have been on hold for 1hr and also 40 mins without getting through.

A fair few comments on social media suggest others waiting to transfer for 5 months and messages also ignored. Is this standard with other pension providers or just Vanguard?

Thankyou.

Reg_Smeeton

I transferred in a DC pension in to them in 2020, I’m no longer using them but probably would again if it was just for simple, self service transactions

My observation would be that everything is a bit slower and clunkier than what you would get at a “premium” service such as HL - transfers, buying/selling funds, receipt of tax relief etc - but ultimately it does work ok if you adjust your expectations accordingly.

dunstonh

A fair few comments on social media suggest others waiting to transfer for 5 months and messages also ignored. Is this standard with other pension providers or just Vanguard?

Most providers that use Origo for transfers (which Vanguard use) do so within days to a week or two at most.  For example, I keyed a transfer in on Monday and the money is already at the new provider today. (both sides use Origo)

Only occupational pensions tend to be slower and that is usually because a) they don't use Origo and b) they use professional administrators and they are usually awful for service times.

xylophone

I have tried to transfer workplace pensions 

What kind of workplace pensions?

penners324

Sounds like your workplace pension is the issue.

Who's it with, what type and are your company still paying into it?

Albermarle

Reg_Smeeton said:

I transferred in a DC pension in to them in 2020, I’m no longer using them but probably would again if it was just for simple, self service transactions

My observation would be that everything is a bit slower and clunkier than what you would get at a “premium” service such as HL - transfers, buying/selling funds, receipt of tax relief etc - but ultimately it does work ok if you adjust your expectations accordingly.

There are quite a few posts about Vanguards poor response times.
I think maybe they have been too successful with their marketing and competitive fees, and the back/front office are probably overloaded.

handful

My OH and I both transferred pensions from SJP recently, mine into ii and hers into Vanguard. Mine took less than a week and hers took about 6 weeks although there was a query with hers that may have slowed the process down a bit.

jcarver007

xylophone said:

I have tried to transfer workplace pensions 

What kind of workplace pensions?

Now and Aviva

ian16527

I use Vanguard for my SIPP and drawdown.
Had a problem transferring a partially crystalised SIPP from Fidelity. The uncrystallised part went through in a week or so but the drawdown part took about 6 weeks. Cant fault Vanguard as Fidelity cancelled the first attempt as it said the value was not correct( not sure why).
Also had no problem with secured messages and telephone calls. The latter will be answered in a day or less, but I will say the hold times are longer now, but depends at what time you call.
I much prefer Vanguard to Fidelity

barnstar2077

For balance, I have been using Vanguard for a while and always had prompt and helpful responses to my queries.

So, either some people have just been unlucky, or they are just a lot busier these days. 

Pipthecat

I transferred two pensions to Vanguard without any issue or delay.