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I have been trying to get my pension pot paid to me (over 55 rule) £22,000 since the rules changed in April.

I was sent initial forms in May, which I completed and retuned, and told it would take 28 days to process, after not hearing for 28 days I contacted them to be told I had not returned one of the forms, because it had not been sent!

I received the form by e-mail and was told it would take 17 days to process.

Guess what after 17 days I rang again to be told it would take another 28 days, or someone could ring me within 48hrs and go through a procedure which would see me get m money within 7 days.

It is now 3 months later and still waiting for the phone call, all I want is to withdraw my pension pot, but I am being given hurdle after hurdle.......

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  • 1 month later...

very much deliberate but in their defence they have to adhere to regulations that are as clear as mud. If the pension pot is more than £40k then they have other rules to abide by that meand they wont want to hand over the money at all!

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I presume you mean the regulations under the guidelines of the FCA. The Pru were instrumental in setting up the FCA! Despite discussion on delays I have calculated in my case that I need to live for eight years just to get back the money I paid in to my Pru pension scheme. That is a numerical calculation and does not include inflation, interest earned etc. I will have to live for eighteen years to get back my pension pot value. When these facts are considered it suggests the investing expertise of pension companies is primarily for the benefit of those companies!

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