SJP Pension

NickA7

Hi. Unfortunately I was duped into transferring 2 pensions into SJP. The "partner" alluded to being independent and gave good advice about moving cash savings into better ISA s as he "had access to the whole market."
He then recommended SJP as the biggest and best pension provider. The only fees he repeatedly referred to were 0.5%.
After transferring my money, I then lost substantially which he tried to justify with the Ukraine situation. This seemed odd as my small workplace pension continued to grow bigger during the same period.
I then read the horror stories on the Internet and began looking into it all before raising a complaint.
SJP took almost a year to come to the conclusion there was no case to answer.
They eventually offered me compensation of £44.00!
Overall a horrible experience which I've now escaped from - at even further cost due to the undisclosed early exit fee - poor products,poor advice, poor service, huge costs which weren't discussed, insulting offer.
I'll leave you to make your own mind up about where to put your money but mine was a very expensive lesson!

dunstonh

After transferring my money, I then lost substantially which he tried to justify with the Ukraine situation.

If you were heavy in gilts, then you would have suffered a large loss irrespective of provider.  Gilts and bond suffered a torrid time from Dec 2021 to October 2023.   2022 was a negative year for nearly everything but equities have since bounced back.  Gilts and bonds have not.

This seemed odd as my small workplace pension continued to grow bigger during the same period.

a) you were still paying in.  That would mask volatility
b) you probably have a different risk profile on the two pensions.