Written on: 04/02/2005 by gevers (1 review written)
Excessive charges (65%), poor service, poor communication.
My employer's pension scheme was with Zurich, so by choosing it I benefitted by my employer making contributions to my scheme. Or so I thought, actually Zurich benefitted, as for every pound put into the scheme, they pocketed 65 pence.
This 65% "charge" was not called a charge though, they referred to it as 'reduced allocation'.
When I subsequently changed jobs, my new employer's pension administrators had to write five times before Zurich transferred what was left of the pension - the transfer process took a year to complete.
I would recommend anyone to steer well clear of Zurich and their associated advisors - mine was Barry Cunningham Associates.
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