Key causes for personal pension provider complaints highlighted

Penfold crunches FOS figures with TrustPilot reviews of providers

Hope William-Smith
clock • 1 min read

Lack of transparency, poor customer service and unreliable handling of data are key reasons behind people’s negative views of their personal pension providers so far this year, Penfold finds.

The digital pension provider found 2,662 specific personal pension complaints were made in the last six months. This was out of approximately 16,300 complaints that have been made against pension providers in general. While Penfold acknowledged "a wide range of factors" can contribute to an individual's dissatisfaction, it noted that transparency, customer service and data handling were the most commonly identified complaint areas when looking at personal pension provider reviews on TrustPilot. "All reviews for the lowest-rated providers commented on bad customer service, often flaggi...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
 Be the first to hear about our events and awards programmes.



Already a Professional Adviser member?


More on Pensions

According to research from My Pension Expert, almost half of those surveyed (45%) believed the current financial crisis had negatively impacted their retirement strategy

Third of UK adults doubt government will restore pension security 

Action needed to protect retirees and pension savers, experts say

Julia Bahr
clock 25 November 2022 • 2 min read
Mark Devlin explains how to help clients avoid the MPAA

Spanner in the works: How to help clients avoid the MPAA

MPAA can reduce DC contributions to £4,000 a year

Mark Devlin
clock 24 November 2022 • 3 min read
PDP publishes updated pension dashboard standards

PDP publishes updated pension dashboard standards

Will consult on draft design standards this winter

Holly Roach
clock 21 November 2022 • 1 min read