Royal London Pensions Transferred Out (23 day process) Wont Be Returning

JJMacintyree

Just to let anyone wanting to transfer out there pensions in drawn down accounts there is now a 23 delay in transferring your pension and an a message on the answer machine not to chase before that date. I was told there was a delay in them conducting outgoing transfers, which was a disappointment also that I was no able to discuss that with them.I have made complaints with this firm . You would think of the size of it they would have good customer service but personally only found that worked for me when there was a formal complaint. This is one of the reasons I'm removing all my funds. There is a loyalty payment you get but that just means that I paid less of the annual fees which in reality. With the uncertainty of what happening in the world financially I'm leaving to go to UK investment (some investments were based in USA) where I have found it much quicker to reach customer service over important financial dealings. Also dont ever forget your password on the website automation in re setting passwords a couple of time over the last year didnt work for me or someone that I knew, thought this should have been pretty basic really. Took several days and several long waits on phone lines to get through to resolve, not great in an emergency. Dont always have the best customer experience in large organisations, wont be going back again.

dunstonh

Just to let anyone wanting to transfer out there pensions in drawn down accounts there is now a 23 delay in transferring your pension and an a message on the answer machine not to chase before that date

I transferred a Royal London (Scottish Life side) recently and it took a week.  That was using Origo.

 With the uncertainty of what happening in the world financially I'm leaving to go to UK investment (some investments were based in USA) where I have found it much quicker to reach customer service over important financial dealings.

What do you mean by that?   

Marcon

JJMacintyree said:

Just to let anyone wanting to transfer out there pensions in drawn down accounts there is now a 23 delay in transferring your pension and an a message on the answer machine not to chase before that date. I was told there was a delay in them conducting outgoing transfers, which was a disappointment also that I was no able to discuss that with them.

Why is that an issue for you - and what is there to 'discuss'? It's hardly unreasonable - and asking people not to chase prematurely is a sensible idea, otherwise impatience is getting in the way of people at the other end doing their job.

Beddie

There's been a few of these lately, where someone opens a new account on here and makes one post, which is a long moan about a company. Why is that? What do they hope to achieve? This one isn't even justified, as 23 days isn't particularly slow. They moan about forgetting passwords too, as though that is RL's fault - well don't forget them! Use a spreadsheet or a password manager. Anyway, I'm moaning now so that's just as bad, have a good day all

Albermarle

There are a lot of people who have waited a LOT longer to transfer out of a pension. With some providers, even if they reply to an e  mail in 23 days, you are doing well !
I would think for a very large traditional provider like RL, then 23 days is acceptable.