Prudential - proving to be a nightmare over transfer

Roger175

Prudential have surely got to be the worst ever company to deal with.

I had to wait over month to get a transfer value (long story, but my on-line access doesn’t work properly – the value of one of my policies simply doesn’t appear on line, so I had to wait for them to post it and then it never arrived so I had to wait another week for them to email it).

I then instigated the transfer with AJB who were told by Prudential that it couldn’t be done using Origo and needed to be done as a paper transfer. So, I phoned Prudential to get a Transfer Discharge form which I was told I would need, only to be told by Prudential, yes it definitely can be done using Origo – please try again. I actually phoned back the next day to check this and a second operative confirmed categorically that Origo was suitable and told me to get AJB to try again.

Guess what, today, AJB have told me it has been rejected again. So, I phoned Prudential to be told it can only be done using Origo if the value is less than £30k (it’s over 5x this). This just doesn’t sound right – does anyone else know if this is correct?

To make matters worse, they are refusing to email me the Transfer Discharge form and tell me it has to be posted and have given an arrival date which will be after I leave for a long holiday.

Absolutely hopeless – this firm doesn’t deserve to be in business.

dunstonh

Prudential have surely got to be the worst ever company to deal with.

No.  There are worse but ever since they contracted out their servicing to a third party and then I believe a different one, they have been poor.  It more or less ties in with when they moved from Holburn to Lancing.

I then instigated the transfer with AJB who were told by Prudential that it couldn’t be done using Origo and needed to be done as a paper transfer. So, I phoned Prudential to get a Transfer Discharge form which I was told I would need, only to be told by Prudential, yes it definitely can be done using Origo – please try again. I actually phoned back the next day to check this and a second operative confirmed categorically that Origo was suitable and told me to get AJB to try again.

Pru do use Origo.   

Guess what, today, AJB have told me it has been rejected again. So, I phoned Prudential to be told it can only be done using Origo if the value is less than £30k (it’s over 5x this). This just doesn’t sound right – does anyone else know if this is correct?

Not correct by them either. I  have done plenty over £30k via Origo.  Indeed, I keyed one that is much larger today.

It could be that there are safeguarded benefits.   It is not uncommon for the plan to be rejected on Origo without reason given when there are safeguarded benefits, and the receiving scheme hasn't supplied the adviser documentation confirming advice has been given.

It could also be AJB's software.   For example, some providers will list the same insurance company multiple times in their Orgio list (which they maintain themselves).   This can involve historic entries that are now dead and can result in auto-rejections because its not being picked up at the other end.     Some providers have multiple entries to cater for the right office as they may have legacy business operating out of a different branch to their own business.     Going back to that one I did today, there were four entries for Pru on the pull down list.   I know there isn't four now but that provider doesn't maintain their list well but I knew the right one to select.

To make matters worse, they are refusing to email me the Transfer Discharge form and tell me it has to be posted and have given an arrival date which will be after I leave for a long holiday.

The form is personalised and not a blank form.  So, it has to be generated by their software. Hence why it posted out.

Absolutely hopeless – this firm doesn’t deserve to be in business.

Don't go blaming them fully yet. It may not be them.  For example, the receiving scheme (AJBell in this case) should be finding out what the problem is and letting you know.   Have they done that?   it sounds like they are leaving it to you.  That is not great service if that is the case.

cloud_dog

Roger175 said:

Prudential have surely got to be the worst ever company to deal with.

I had to wait over month to get a transfer value (long story, but my on-line access doesn’t work properly – the value of one of my policies simply doesn’t appear on line, so I had to wait for them to post it and then it never arrived so I had to wait another week for them to email it).

I then instigated the transfer with AJB who were told by Prudential that it couldn’t be done using Origo and needed to be done as a paper transfer. So, I phoned Prudential to get a Transfer Discharge form which I was told I would need, only to be told by Prudential, yes it definitely can be done using Origo – please try again. I actually phoned back the next day to check this and a second operative confirmed categorically that Origo was suitable and told me to get AJB to try again.

Guess what, today, AJB have told me it has been rejected again. So, I phoned Prudential to be told it can only be done using Origo if the value is less than £30k (it’s over 5x this). This just doesn’t sound right – does anyone else know if this is correct?

To make matters worse, they are refusing to email me the Transfer Discharge form and tell me it has to be posted and have given an arrival date which will be after I leave for a long holiday.

Absolutely hopeless – this firm doesn’t deserve to be in business.

I'll go and get my t-shirt 🥺

Roger175

dunstonh said:

Prudential have surely got to be the worst ever company to deal with.

No.  There are worse but ever since they contracted out their servicing to a third party and then I believe a different one, they have been poor.  It more or less ties in with when they moved from Holburn to Lancing.

I then instigated the transfer with AJB who were told by Prudential that it couldn’t be done using Origo and needed to be done as a paper transfer. So, I phoned Prudential to get a Transfer Discharge form which I was told I would need, only to be told by Prudential, yes it definitely can be done using Origo – please try again. I actually phoned back the next day to check this and a second operative confirmed categorically that Origo was suitable and told me to get AJB to try again.

Pru do use Origo.   

Guess what, today, AJB have told me it has been rejected again. So, I phoned Prudential to be told it can only be done using Origo if the value is less than £30k (it’s over 5x this). This just doesn’t sound right – does anyone else know if this is correct?

Not correct by them either. I  have done plenty over £30k via Origo.  Indeed, I keyed one that is much larger today.

It could be that there are safeguarded benefits.   It is not uncommon for the plan to be rejected on Origo without reason given when there are safeguarded benefits, and the receiving scheme hasn't supplied the adviser documentation confirming advice has been given.

It could also be AJB's software.   For example, some providers will list the same insurance company multiple times in their Orgio list (which they maintain themselves).   This can involve historic entries that are now dead and can result in auto-rejections because its not being picked up at the other end.     Some providers have multiple entries to cater for the right office as they may have legacy business operating out of a different branch to their own business.     Going back to that one I did today, there were four entries for Pru on the pull down list.   I know there isn't four now but that provider doesn't maintain their list well but I knew the right one to select.

To make matters worse, they are refusing to email me the Transfer Discharge form and tell me it has to be posted and have given an arrival date which will be after I leave for a long holiday.

The form is personalised and not a blank form.  So, it has to be generated by their software. Hence why it posted out.

Absolutely hopeless – this firm doesn’t deserve to be in business.

Don't go blaming them fully yet. It may not be them.  For example, the receiving scheme (AJBell in this case) should be finding out what the problem is and letting you know.   Have they done that?   it sounds like they are leaving it to you.  That is not great service if that is the case.

Dunstonh, thank you so much for your detailed reply, really appreciated.

Thankfully I don't need this money any time soon, it's just start of a long term plan to bring my various pensions into a common place where I have control and can instigate my own drawdown plans.