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Review of the Standard Life, Pensions:

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Administration a Catalogue of Errors

Early last month I cashed in my Premium Bonds and paid it into my stakeholder plan. My employer pays into the pension by Direct Debit and I pay into the account by BACS through salary sacrifice. I had no direct debit set up to my bank account. In the middle of the month I transferred from a stakeholder to an active pension. Straightforward, you would think. On 31 May Standard Life refunded the money I had paid in by cashing my premium bond. I therefore lost the chance of winning a prize on these bonds and I also had an investment loss. They also took £820 out of my personal bank account for reasons the cannot explain. They also cancelled my employers direct debit so I have lost this investment too. I have called them today - 9 days after the catalogue of errors occurred - and they still have no clue how it happened and how to rectify it. Due to their complete incompetence, I am seriously worried about my investment. Reviewed on: 9th June 2022

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