Prudential Pensions not paying out

[Boggie53]

I am deeply troubled by the way that Prudential and other pensions providers are treating pensioners trying to access their personal pension funds. Previously I have written to the pensions minister and My MP is also investigating.

On behalf of the many hundreds of very disappointed and angry customers of Prudential private Pensions, I have started a facebook group specifically for complaints about the very slow payment times and misleading and contradictory information from Prudential.

www.facebook.com/groups/333315208155052/?ref=share_group_link

There are so many examples of their appalling behaviour that overwhelmingly reveal extremely poor customer service, not answering or delaying phone calls, rudeness, delaying payouts for years, misleading (wrong) advice and mislaying customer records. Many people are in extreme distress waiting years for payment having saved all their lives - people are dying before they get their savings paid.

I wasn’t aware of this, thanks for flagging it up.
Have been looking to purchase AVCs through Prudential, who are the local government provider, but have found setting it up almost impossible due to terrible customer service from call handlers who don’t appear to understand how their own systems work. The website is appalling.
Given what you say about difficulty with paying out, and the lack of clarity from the Pru regarding the 2019 transfer of the the UK part of the business, I don’t feel this is a provider I want to be involved with. I’m not sure if there are alternatives though for local government employees.

Many of the people complaining about Prudential pensions on the Facebook page are moving their savings to Aviva.

Surprised at this as Prudential is such a massive firm that underwrites so many insurers and financial products

The Pru used to be a respected company with excellent customer service. They are now owned by M&G. M&G plc is a global investment manager headquartered in the City of London. Since its de-merger from Prudential plc, it has been listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. They appear not to be interested in paying out people's pensions in the UK anymore, by making it extremely difficult to access your savings.

Anyone with a Prudential private pension should move it ASAP, as they have been shown to be uninterested in customers and seem to actively discourage people from accessing their savings.

I’m with the Pru. I requested 20k tax free cash from my pension on 7 May, it was in my bank on 15 May. No issues.