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“My employer's pension scheme was with Zurich, so by...”

Written on: 04/02/2005 by gevers (1 review written)

Good Points

Bad Points
Excessive charges (65%), poor service, poor communication.

General Comments
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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