written by Curtiscv47 on 24/09/2015
I had my pension with HSBC which I started when I was with my previous employer. I started trasferring process of that one to my another pension account my current employer provides when I was still with HSBC about a month ago. Then I received another form to fill out from ReAssure and the pension value on the form was £1,300 less than 1 month ago (when I checked with HSBC). I called ReAssure and asked why, and they just said this is because of the market, that's it. They said they can't provide me with more detailed information about how it had been performing and said they can only provide the fund value of the day when customer calls (so they say we need to call them everyday to find out the performance over the certain period of time...just ridiculous). No online account to check more detailed information. Everything looks so duvious. Stay away.
As rated by our community of reviewers
Vgb1's Comment
Written on: 27/09/2015
Phoned up pension pot before being transferred £57,000 now wit ReAssure £52,000. No explanation same as you cannot understand where it has gone!
How on earth was this allowed to go through no-one could have investigated them thoroughly or they would have spotted the bad practise.
Just trying to work out what I do next!
Lonelondoner's Comment
Written on: 29/09/2015
I have written a complaint email to ReAssure and demanded explanation. I also told them that I was ready to report this to the Financial Ombudsman Service as the way they are conducting business is hardly acceptable. Not sure how much this helps but let's see.
P1821's Comment
Written on: 18/01/2016
My husbands pension pot has lost a fifth of its value in 4 months after being transferred front HSBC to reassure. They will not give any detailed explanation just that it's down to the ftse. Surely they must be more accountable than that?