Prudential Pension Reviews

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Latest Reviews

★☆☆☆☆

“Get your money back ”

Written on: 17/02/2021 by JimBelcher (1 review written)

If you’re looking to get your money from prudential, get at welovetheearth040 at,gmaiI,com. The recovery experts helped me get my money

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★☆☆☆☆

“Unacceptable racket”

Written on: 22/07/2020 by Dudley430 (1 review written)

I was mis sold a pension by Prudential in 1981. But, because this was pre-regulation time, I discovered that there was nothing I could do about this, and continued paying into this, as advised by them, otherwise i would have lost 10 years' of payments. Through the years, I never managed to get a first time straight answer to anything from them. Now it is time to take out this pension. I have been trying since October 2019 to get an actual quote of what I was due: keep getting long (5 page +) letters showing ‘illustrations’, ‘estimates’ but no hard facts. Every time I try and ring have to wait a minimum 45 minutes to get through (minimum 20 minutes pre Covid) and never manage to get a straight or useful answer, again. The irony is that, if one tries to contact them through their online portal, they are advised to ring ‘for quicker response’!!! I now have engaged an IFA to chase them. He found out that the documents I was sent did not include a product code, apparently essential. Again, tried to ring them to request this: was told that I was placed on a ‘waiting list’ to call back ‘about 15 days call back time’! looking at this thread, it is obvious that they are doing everything possible to stall the cashing of the policies. And, on top of that, they informed me that I cannot access my funds without first having proof of having received ‘financial advice’, which would cost about£5,000 (pay that to get my money!!!). Funny though how they seem to be quick and on the ball when it comes to online PR: quick with platitudes there. Unacceptable!!!

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★☆☆☆☆

“Pension with supposed profits ”

Written on: 20/04/2019

I have a pension with profits I was told the bonus was the same as last year and would be added to my funds but prudential took £1000 off my pension I have complained twice to customer service prudential don't want to reply and explain why this is has this happened is there other investors this has happened to can anyone shed some light on this for me.

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★☆☆☆☆

“A bunch of spivs”

Written on: 18/02/2017 by sausage57 (2 reviews written)

I phoned the Pru up to get some information about my Prudential pension, I explained that I only wanted some basic information and was not in the market to buy or take anything, they said that they would look into my issue and get back. I then got a letter to tell me that a rep was going to call. In due course a couple of guys arrived and went straight into a high pressure sales drive, I kept telling these 2 spivs that I wasn't interested but they just kept right on going. I never got any of the information I wanted and eventually I had to ask them to leave. These 2 guys were a disgrace, totally uninterested in my issue just pressuring me all the time to sign their forms so they could get a commission on something, they ignored everything I said and for sure told several obvious lies to try and trick me into signing their forms. This experience left me feeling very angry and I won't waste my time contacting the Pru again if I can help it.

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★☆☆☆☆

“You're giving the boss of pension firms one massive salary”

Written on: 20/12/2016 by 446Gillespie (1 review written)

If your thinking about a pension my advice is never do 1 when you first take it out the figures look good 35 years later there a joke all those years you struggled to pay it on minimum wage the government will take the best part of it when you paid £120 a month's for 35 years when you are 65 you will be lucky to get £80 a month I always advise people to do a pension how wrong I was you're paying for the man at the Top a massive salary 4 weeks holiday company car these people will do the best thay can do 2 keep you it's a bit like a fruit machine someone's got to pay the electric bill to run it

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Sausage57's Comment

Written on: 18/02/2017

I concur 100%

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★☆☆☆☆

“How can you do this to me”

Written on: 17/11/2016 by JulianChase (1 review written)

I am now in my seventies and turned my Prudential policies into two annuities ten years ago. The figures were so bad I took it to the Ombudsman, it did increase figure, but I still thought it should be more so Appealed against the decision to no avail, they said accept. Now, 10 YEARS LATER, Prudential have come back to say they owe me money - a derisory sum worked out at 1 percent interest, and they clam up when asked to give full details. I went through all this stress 10 years ago and they think nothing of doing it a second time round. What I'd like to know is how well does the Ombudsman investigate? Prudential show no client respect or care when it comes to their mistakes.

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★☆☆☆☆

“Inefficient and hopeless”

Written on: 21/07/2016

I worked for the BBC for many years and at one point went on a short-term contract with one of their charities. They put me into a pension scheme with the Prudential, the BBC contributing as well as me personally. I put this pension on hold when I rejoined the BBC full-time as I began paying into the main BBC scheme. I was not allowed to transfer the Pru money across. Now I am 55 it is proving almost impossible to get this relatively small pension pot with Prudential paid as a lump sum. I know part of it will be taxed, but there is no point in taking an annuity as it is so small. The BBC managed to pay my pension annuity on my birthday with no problems. A final salary pension annuity I had with another employer, paid without issue on my birthday. Not Prudential! When I made my initial call several months ago, they would not discuss anything because apparently I didn't know my first name. I had to send them a copy of my birth certificate to prove they had made a mistake. They tried to blame the BBC for supplying the information - the same BBC that had employed me since 1990 and had always known my name! This took two weeks to sort out. Then Prudential said I couldn't do anything until my birthday - obviously rubbish but I waited until closer to the date. Each time I called, the pension value fluctuated dramatically. It is now two weeks since my birthday, they still can't tell me how much I will receive (except give a one of the wildly fluctuating estimates), or exactly when it will be paid. Apparently they are very busy since the referendum. Hmm sounds like a poor excuse to me. Not impressed as the other pension companies have been helpful and very efficient.

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★☆☆☆☆

“Steer clear”

Written on: 26/10/2015 by Curran2395 (1 review written)

The customer service is non existent I have a very small pension with this company that was due to pay out on the 30th September I am still waiting I have contacted them on a daily basis to be told somebody will ring me back this never happens When I asked for the name of the CEO so I could put a complaint in writing I was amazed to be told to hold till they went to find out who that person might be! Everyday I am told that some mysterious back office is dealing with my request what they need to realise is that this is my money they are dealing with and not their own. I will make my daily phone call now and if nothing is forthcoming I will be of to the small claims court this afternoon. AVOiD LIKE THE PLAGUE

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Alexjohnstone's Response to Curran2395's Review

Written on: 30/11/2018

This is identical to my experience with the Prudential uk

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★☆☆☆☆

“do not even think about it!”

Written on: 28/08/2013 by KentTimetraveller (1 review written)

Do not trust any of the financial institutions to 'look after your money', the Pru is just as bad as the rest. 25 years into my Prudential personal pension and the transfer value would not even buy me a decent car, let alone retirement income. Once they have you locked in, it is an exercise in confusion. Keep using your money to make money, but try not to let you have any of it back. There might be a promise of a terminal bonus, but all this does is to lock in the existing catch they have. Seriously, I suggest that you just put your money into an ISA account where you have complete control. If you like a bit of risk take out the stocks/ shares version, if not just stick with cash. I would call on all employees of financial institutions to examine your conscience. If you work for the Pru or any of the banks you really should consider leaving and move to a more ethical business.

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★☆☆☆☆

“lazy customer care”

Written on: 09/03/2013 by petercb (1 review written)

I recently applied for a pension pack pack from Prudential. 32 days later it still has not turned up. When telephoned they fob you off with tales of 'faxing it through' , 'being sent by recorded delivery'. You deal with both Scotland and India , and there is not one shred of cooperation or communication between these two sites. The whole operation is indolent, inefficient and totally lacking in the basic concepts of 'customer care'. I have now e-mailed their CEO and that does seem to have stirred up the hornets nest. The pension fund itself has proved to be a dismal failure, and considering it was in a high risk, high return form it proved to perform no better than a basic 'no frills' fund. They still have yet to resolve my complaint. DON'T TOUCH 'EM , STEER CLEAR

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★☆☆☆☆

“Prudential ,Quite the worst Company I have ever dealt...”

Written on: 14/01/2013

I had a Company Final Salary Pension Scheme - Annual Statement(money purchasre scheme ) did not itemise the Companies contributions and when I was a trustee I highlighted this - their excuse was that their computer program did not cater for this ?? Are they taking the mickey or what ? I eventually had to retire as a trustee because of the attitude of this company as I had no faith in their procedures They almost diddled me out of £38000 when I got my final statement - this was luckely picked up by our pensions manager - no apology or how they reached this final settlement ,so to this date I am still not sure they have not swindled me - In my view they are nothing but criminals and it is about high time that the FSA took companys like this to task - I have read numerous terrible reviews concerning this bunch of chancers (in my opinion anyway ) I was contracted out of SERPS and the money went into the Pru. There was a couple of years where HRMC had not paid them . Now the Pru is charging me to run this scheme so why did they not pick up on this . This caused further problems downline and took months of correspondence to sort out . They NEVER fully answered my E Mails and were wholly unprofessional . 0/10 for service and their web sit is rubbish in my opinion Quite the worst service I have ever had and I would not trust them EVER Generally speaking the UK Private Pensions industry is not nearly closely regulated enough and is a disgrace , Of course why should government departments bother when they are mainly on publicaly financed gold plated pensions and live in another universe Take Doctors - going on strike because they have to put a bit more into their pensions are they taking the urine - Their £60000 average pension would require over £2000000 in a normal private pension to give this sort of annual income. All MPs pensions should be private pensions and then maybe something would be done, but oh no , its pigs in the trough as usual for this bunch of chancers

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★☆☆☆☆

“negligent”

Written on: 17/11/2012 by chanton (1 review written)

My pension was due on the 18th of October. I was asked to sent a copy of a letter so it could be paid. Twice it was lost do I sent a registered delivery letter that was also lost. I then faxed it. Every call haNadler told a different story. I was told on 17 occasions I would be called back and wasn't. Supervisors and managers said it had been sorted when it wasn't. Twice I wad given date s of payment. The last stare last straw this week when I was told money had been telegraphed. .... still waiting !!!!

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☆☆☆☆☆

“I handed over 147,427.72 in 1998, and at the present...”

Written on: 07/03/2006 by Alan Garner (1 review written)

I handed over 147,427.72 in 1998, and at the present rate it will take 15 years just to get the capital back on my Prudential Pension, and I will be 85 years old by then. I now receive less in 2006 than I did in 1998.

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Robwt's Response to 233010_Alan Garner's Review

Written on: 31/08/2006

It may be helpful if I were able to read Alan Garner's review. Having said that the Prudential do not have a good name.

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★☆☆☆☆

“Prudential seem unable to calculate the value of my...”

Written on: 20/06/2005 by TEK22 (1 review written)

Prudential seem unable to calculate the value of my pension plan. They have had to admit to having made mistakes and the most recent statement has a note on it saying that the most basic figure on the annual statement (The value of the plan excluding final bonus) may be wrong.
They at first condescendingly denied there was a mistake, understating the value of my plan, until they had to admit their mistake.
In my experience, good customer service is an alien concept to them, despite anything they claim.

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205593_Mtt05's Response to TEK22's Review

Written on: 10/08/2005

I have also had very poor service from them. They ask all the questions of me, but cannot answer very simple ones I ask. The attitude is also quite atrocious! My money will be better off elsewhere. So will I.

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