How to make a complaint about a pension



Posted on: 5th December 2018

We sincerely hope that you are never in a situation where you have to complain to your pension provider. However, we cannot deny that sometimes, things can go wrong. This week, we shall discuss the process you must follow to make a complaint about a pension. We will also explain what can be expected from your provider.

Approaching your provider to make a complaint about a pension

The first thing we recommend is to start by talking to your provider to discuss your concerns. By doing this, you may be able to resolve the matter without going through a formal complaints process. As a result, it will save both you and your provider a lot of time, effort and stress.

If they are still unable to resolve your issue, ask them for information regarding their complaints process. They should provide you with the details of whom you need to contact. They may take details of your complaint there and then. However, it is important for you to receive acknowledgement of your complaint in the post. This acknowledgement should explain the next steps and when they expect to provide a full response to your complaint.

Keep Track

It is wise of you to keep a record of your complaint process. This includes the time and date of any phone calls, the person with whom you spoke, as well as what was discussed. If you send them any correspondence, be sure to keep a copy of these for your own records. These will allow you to produce a complete record of the complaint.

Once your complaint has been investigated, you should receive a formal final response from your provider. This should detail the main points of your complaint; their response and any actions being taken to resolve the underlying issue. It should also include any compensation they deem appropriate.

Further Help

If you are not sure how to proceed with your complaint, you can turn to some free services for impartial and independent advice. Pension Wise and the Pensions Advisory Service (TPAS) are just two places you can turn to. TPAS can offer advice, as well as assisting in finding a solution between you and your pension provider. However, be aware that they cannot help if you have already started legal action. It is also unable to make legal decisions of your complaint.

Pensions Ombudsman

If you are unsatisfied with the response given by your provider and TPAS were unable to help find a solution, you can refer your complaint to the Pensions Ombudsman. They have the authority to investigate your complaint, as well as the legal power to uphold or reject complaints. They can also determine what compensation, if appropriate, should be made.

Talk to Haven IFA

We understand the importance of getting what you need from your pension. Having an independent financial adviser can help you make the best pension decisions. This will minimise the risk of needing to make any complaints. However, we do hope that you found this article useful. It is certainly something to make yourself aware of in the event that a complaint is needed. To find out more about how our team can help with your financial planning, get in touch.