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Legal and General: Pension reviews

Name: Pension
Rating: 1.68 (40 reviews)

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1.60

Based on 40 reviews, last reviewed 23rd Aug 2024

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

10%

74%

Latest highest rating:

5

Friendly staff who care about their customers Friendly staff who care about their customers Reviewed on: 23rd August 2024

Latest lowest rating:

1

Worksave Pension Scheme I'm about to cash in a small pension scheme with Legal and General which has gone up a total of 1% in total over the last five years. I complained, gi... Read more Reviewed on: 30th May 2024

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About this product

Legal and General pension reviews written by Smart Money People like you. For many of us, our pension is an important part of our financial future. Finding a pension provider that you can trust and rely on is a must for many people. Take a look at our Legal and General pension reviews to find out what life at Legal and General is really like. If you hold this pension, we'd love you to write an honest review here too!

Legal and General Pension reviews (40)

Review of the Legal and General, Pension:

Legal & General stymie changing banks

Legal & General make changing your pension-receiving bank details virtually impossible. Having been encouraged to opt for paperless correspondence by my bank and by Legal & General, I not not have any hard copy documentation. When attempting to change bank details within the L&G portal they request hardcopy proof of the new bank account details, which of course L&G and banks enthusiastically discourage. They will accept electronic correspondence but, for security reasons, banks do not transmit bank account information via email. What should be a two minute admin process turns into a very protracted, time-wasting distraction which consumes weeks/moths of your time. I find the nonchalant arrogance of Legal & General quite astonishing. Only when I have the right to move my pension fund to an alternative provider without penalty will failing organisations such as Legal & General move to change. Reviewed on: 24th January 2024

Workplace pension losing money

My pension pot is now worth several thousand Pounds less than I have paid in Reviewed on: 20th April 2023

Do NOT trust Legal and General with you Pension

Avoid Legal and General at all costs. This company has NO customer service, very unprofessional and incompetent. You really do not want a company like that to manage your pensions… I want yo transfer out my pension to another provider, Legal and General is taking months to process the request, it has taken about 15 calls, many emails, complaints, many documents sent, and after all that they are unable to let me know what the status is, what the next steps are, and how long will take for them to review my documentation. It should be illegal for a company like Legal and General to operate treating consumers this way… Customer should not be felt completely left in a limbo about their pensions. There are other providers that are much more efficient and that provide better return for your pension. Reviewed on: 3rd April 2023

Great service

Great service from L&G. Easy to use website & good products. Reviewed on: 1st March 2023

Private Pensions

I hold 2 investment products with L&G and find it easy to navigate through my products using their website and they also give me the option to change my assets or strategy via their website. Overall great services and they could offer an app for the clients to navigate and make changes to products too. Reviewed on: 1st February 2023

A breaker of contracts

An annuity was ending with a previous provider (Canada Life) and I asked Retirement Line to obtain new quotes for a 10 year annuity. This was back in November /December 22. A quote from Legal and General was offered, which included cover for my wife should I pop off before the plan ended. It was not the best, but the cover and price swung the deal. I agreed the quote and the money was transferred from my previous provider on Dec 12th 2022 to Legal and General. They then sat on it and did nothing. yesterday Retirement line then sent me a new quote from Legal and General. But we had already contractually agreed a deal-hence why the pension pot had been transferred to them, but this time the quote was thousands of pounds less. So they offered a quote, I accepted, the money changed hands into their bank, and then they sat on it and reneged on the original agreed contract and sent a much lower quote. Apart from breaking a contract, if there were none, they would not have got the money, they never contacted me, reneged on the deal and acted unethically and obviously now feel they have me over a barrel because they have my entire pension pot. What an outrageous way to deal with a client after I accepted their quote and sent them my money. Unscrupulous, unethical and un trustworthy. Definitely one to avoid especially at a critical time dealing with your life savings and pension. Reviewed on: 11th January 2023

Very Poor performance

I've three pensions' pots and the L&G one has consistently underperformed out of them. During the recent Truss hiatus, the loss from L&G % value was twice as much. I had no choice on provider as it was part of a company scheme, if I had it wouldn't be with L&G. Reviewed on: 25th October 2022

Lost nearly 30%of my pension funds

Lost nearly 30%of my pension funds in few months Reviewed on: 8th October 2022

Disgraceful Fund Management

My Pension fund has dropped by 25%!!! After finally getting through to L&G and despite being charged for Fund administration and management, the reslonse was itvis my responsibility to monitor the investements. Do not invest with L&G Tony Reviewed on: 4th October 2022

Crippling Pension Value Loss

My L&G Workplace pension has dropped in value by around £30,000 THIS YEAR! Any pension is a gamble but L&G seem to have the worst performance. Reviewed on: 22nd September 2022

Worth less than I put in

My L&G pension that I have been paying for around 10 years is now worth the same amount of money that I have paid in. And it appears on a downward slope. Utterly incompetent management of funds. I shall be moving my funds elsewhere at the earliest opportunity! Reviewed on: 16th September 2022

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