Prudential Pension

The_Plank

I have been trying to get my pension pot from Prudential for five years. I am almost 71 years old. I had many jobs over the years and quite a few small pension pots. I have had no trouble with other pension providers. Prudential want me to pay their advisors a fee before they agree to give me the money. I have asked for a Drawdown. I refuse to pay them a fee. I have seen Pension wise twice. Prudential are bullies. The value of this pot is 18K. Any other viewers in this situation?

Dazed_and_C0nfused

The_Plank said:

I have been trying to get my pension pot from Prudential for five years. I am almost 71 years old. I had many jobs over the years and quite a few small pension pots. I have had no trouble with other pension providers. Prudential want me to pay their advisors a fee before they agree to give me the money. I have asked for a Drawdown. I refuse to pay them a fee. I have seen Pension wise twice. Prudential are bullies. The value of this pot is 18K. Any other viewers in this situation?

Why don't you simply transfer it to another provider?

dunstonh

Prudential want me to pay their advisors a fee before they agree to give me the money.

No they don't.    
a) they are not advisers.  Their service is non-advised.
b) they want you to pay them a fee if you wish to use their drawdown product.
c) you are free to select another provider on the DIY market.

 I have asked for a Drawdown. I refuse to pay them a fee. I have seen Pension wise twice. Prudential are bullies. 

They are not bullies.   They are not stopping you use another service.   They are just telling you what their charges are if you wish to use them.  They are expensive but they are doing nothing wrong.

sunnyflower

My husband had the same issue, Prudential wouldn't release any money until he had
advice ( pensionwise doesn't count ). 
He reluctantly agreed to see an advisor as his retirement date was looming. We were pleasantly surprised,  he was very helpful, he explained the options & answered our questions.

dunstonh

My husband had the same issue, Prudential wouldn't release any money until he had
advice ( pensionwise doesn't count ). 

If there are safeguarded benefits and the value is above £30,000 then advice is mandatory if you are not buying an annuity.    Pensionwise do not give advice so that is why they do not count.

xylophone

You have a wide choice of other providers.

Example

https://www.hl.co.uk/pensions/sipp

under  Transfer your old pension.