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Matthew Stubbs

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Review of the NEST, Workplace Pensions:

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BEWARE Almost impossible to get your money out

It has been very difficult to access my pension pot. They claim it takes two weeks to receive the payout but it’s now been well over a month and they still haven’t paid. When I contact support they claim to have limited information on the status. They just constantly come up with new requests for additional information - what seem like blatant ploys to delay paying me the money they have taken from me over the years - atrocious! I will keep you updated on progress. UPDATE It’s now taken another 11 days. They sent me a letter with a code that I have to read to them over the phone. But when I call them to do that, customer service says they are not trained to take the code and a special department has to take it. But they can’t put me through to that department and I can’t call that department, they have to call me! They promised that department would call same or next day but that didn’t happen of course. And so it goes on!!! At last I got to speak to the department that can take the code from me over the phone, which they did. Then they told me they now pass the request on to another department who will hopefully 'pick it up' within a few days. Then within another few days that department will set a payment date sometime in the future (no guarantee when). Then once the payment date is set it should take 5 days (from then payment date) for them to send me my money. So basically still no fixed timescale because they have to set payment date which is floating. An unbelievable process that is obviously designed to delay the payment of money back to contributors, while hiding behind the excuse of security! If you need to take money, out of your pension pot, in a couple of years time I suggest you start the process now! It’s now another two weeks and still no progress. Despite promising to set a payment date they have not done it. When ever I call the retirement team they are not available to answer any questions. It just goes on and on. Avoid this company like the plague! Reviewed on: 26th July 2023

Matthew Stubbs

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