Guest's Review of AMP NPI Pension
15th May 2009
Overall Rating
- Value for money
Supremely arrogant - no interest at all in customer service
General Comments
I used to be pleased with my NPI pension, because it gave a good choice of external fund managers. Then, when NPI withdrew all of these external options, I instructed them to transfer my funds to a new company. After months of hassling them to make the transfer, and multiple requests for information, NPI finally closed my account and transferred my balance ... two weeks after disinvesting my funds. What did they do with my money during those two weeks? Kept it for themselves, of course! No investment growth, not even deposit interest! The only explanation given was that this is the standard of service they offer, and they can't do better because they outsource their admin and their contractor works on the basis that 90% of payments must be made within 2 weeks - in other words, they reduce service standards and save money by outsourcing, and use this as an excuse to treat their customers' funds as a private piggy bank. Great business model, guys!
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Web Links
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