Royal London Reviews

  Ratings based on 41 reviews       Last review 13 hours ago    

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Overall Rating

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Top Age Profile: 45-54

Top Channel Preference: Phone

Royal London Products 41

Pension

Transferred pension

Since transferring a pension into my Royal London pension, it has gone from making money consistantly to losing money everyday. This has gone.from 9.1% increase for the life of the policy and now down to 4%. I now feel I've made a very big mistake... Read more

Since transferring a pension into my Royal London pension, it has gone from making money consistantly to losing money everyday. This has gone.from 9.1% increase for the life of the policy and now down to 4%. I now feel I've made a very big mistake losing £100's of daily. What are they doing with it. Now only an increase of £2,000 in 11 years

Reviewed on 26th January 2022
Andrew Latham's avatar
Andrew Latham
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Pension

AVOID Royal London Pension scemes

AVOID Royal London... Read more

AVOID Royal London pensions.
I have had a shockingly bad time with them and have received terrible shoddy service.
For the last 12 months I have sent numerous emails and had numerous phone calls regarding a mistake that they have make on their part in regards to my first name.
This situation has still not been fixed and they have no empathy whatsoever with the stress that it has caused me.
I am in the process of transferring this pension to another company but I cannot do this until they fix my first name (a very simple thing to do)
Avoid this company like the plague (pay close attention to the other reviews on here)
I will be taking legal action as they are clearly holding on to my money, this is an untrustworthy and fraudulent company! “Big red flags people” BEWARE!!

Reviewed on 19th January 2022
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J Lee
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Pension

Another unable to access pension

Same as the first review I read. My pension was also a CIS pension but it is well over a hundred thousand pound fund. I turned 60 in August of 2021 and from July of that year Royal London were informed what I wanted to do with my pension. It is now... Read more

Same as the first review I read. My pension was also a CIS pension but it is well over a hundred thousand pound fund. I turned 60 in August of 2021 and from July of that year Royal London were informed what I wanted to do with my pension. It is now January 2022 and I still have no lump sum and no pension. The same old crap every time you contact them. The cannot verify my identity. They didn't get the settlement figure quick enough. They have a lot of departments that don't talk to ETC ETC ETC. I have gotten to the point where I firmly believe that I will never receive my pension and that Royal London are an absolute con.

Reviewed on 15th January 2022
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Floyd
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Pension

Unable to access Pension

I took an annuity pension about 20 years ago when Royal London was formerly CIS (Co-op). It is not a large pension, only around £12,500 fund. I turned 60 years old in May and since around July, I have been trying to access my pension, so far without ... Read more

I took an annuity pension about 20 years ago when Royal London was formerly CIS (Co-op). It is not a large pension, only around £12,500 fund. I turned 60 years old in May and since around July, I have been trying to access my pension, so far without success.

I have sent all relevant documentation to them including, sending proof of ID, not that I should need any as every time I call them, or they call me, I go through the same security checks etc etc etc!

After sending my signed documents however, they then contacted me a month later to tell me they have not been able to establish my identity. I found this hard to believe, as I have banked with the same bank for over 40 years, I have had a paper trail of mortgages and loans going back over 40 years, I’m a UK resident and tax payer and I am on the voters register!!!

They now wanted someone on authority to certify my ID (passport & driving licence) and I arranged for a close friend a former retired police officer of over 35 years to certify that he had seen my ID.

Once again, I sent these off, but have received further communication rejecting the documents as the person certifying is now retired!!!

After expressing my dissatisfaction to the customer service person, she was quite rude and abrupt, and it was clear I was getting nowhere fast!

She suggested I have my GP certify the documents! You really couldn’t make it up. I would be lucky to see my GP if I was dying, let alone get him to sign my pension ID!!!

It would appear that Royal London do not wish to part with MY money and are seeking to obstruct me at every stage of the process. Do not use this useless company!!! My score is -0/10

Reviewed on 9th November 2021
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Stephen Ford
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Pension

Awful process to transfer in and out!

It took an eternity to transfer in from Nest... I thought this was Nest's poor CX. Now it's taking an eternity to move from Royal London to Aviva. Each side says the other is causing the delays.

Reviewed on 21st October 2021
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Wendy Quantrill
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Life Insurance

Very helpful company

Any communication with them very good

Reviewed on 8th October 2021
Elizabeth Hall's avatar
Elizabeth Hall
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Pension

mortgage protection life insurance

DO NOT TRUST ROYAL LONDON WHAT A LOAD OF SCAMMING CONS WHEN MY DAD DIED IT TOOK 5 MONTHS FOR THEM TO SORT THE CLAIM OUT TO SAY THEY NOT PAYING OUT YOU ARE SCAMMERS HE PAID 10 YEARS PAYMENT TO SAY YOUR NOT PAYING OUT THIS WILL BE TOOK FURTHER WITH... Read more

DO NOT TRUST ROYAL LONDON WHAT A LOAD OF SCAMMING CONS WHEN MY DAD DIED IT TOOK 5 MONTHS FOR THEM TO SORT THE CLAIM OUT TO SAY THEY NOT PAYING OUT YOU ARE SCAMMERS HE PAID 10 YEARS PAYMENT TO SAY YOUR NOT PAYING OUT THIS WILL BE TOOK FURTHER WITH OMNIBUS YOUR ROTTEN GETS HOW CAN YOU DO THIS TO PEOPLE WHEN THEY DIE
LOOK AT ALL YOUR BAD REVIEWS THAT DOES SAY WHAT YOUR ARE RIPPING CUSTOMERS OFF

Reviewed on 8th October 2021
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mark jones
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Pension

Totally unacceptable

I have been trying to cash in my pension since April 2021. It is now August I have just received my lump sum, they were supposed pay my back dated monthly payments in July there was a problem it will now go in mid August. I would never recommend this... Read more

I have been trying to cash in my pension since April 2021. It is now August I have just received my lump sum, they were supposed pay my back dated monthly payments in July there was a problem it will now go in mid August. I would never recommend this company for pensions . They never reply to emails or phone calls. I wish the Co-Op had never sold out to to RL BIG MISTAKE

Reviewed on 12th August 2021
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Carol Morgan
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Pension

Do they live up to their 1 star

Decided to cash in a policy after receiving the updated cashing in letter! Phoned with promise to call back of course they didn't, name taken was more than likely a made up name! 3 calls so far, Yes a letter form will be in the post! it hasn't... Read more

Decided to cash in a policy after receiving the updated cashing in letter! Phoned with promise to call back of course they didn't, name taken was more than likely a made up name! 3 calls so far, Yes a letter form will be in the post! it hasn't arrived! They act like a company that would be high on the list of a Fraud investigation by the police! Is the head office in Nigeria?

Reviewed on 31st July 2021
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Darrell Holland
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Pension

Terrible Customer Service

They don't get back to you. You have to chase constantly. Taken 3 weeks of emailing multiple teams and gotten nowhere for a simple request. Do not use.

Reviewed on 25th June 2021
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Sharan Soni
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Pension

Very slow, unhelpful and hanging on to my money (3 months pension so far - over 2K now)

I had an ex CIS pension that was transferred to Royal London.. Recently reached 65 but in the run up to this, Royal London wouldn't reply to letters and emails and had to be chased again and again about annuity quotes. The process dragged on for... Read more

I had an ex CIS pension that was transferred to Royal London.. Recently reached 65 but in the run up to this, Royal London wouldn't reply to letters and emails and had to be chased again and again about annuity quotes. The process dragged on for months. Now over 3 months after my pension start date I still haven't had any money. They now tell me payments will start next month but not back dated and it is my fault for applying too near retirement. They have effectively stolen 3 months of my pension. They said it was because I applied late. Not the case - they wouldn't communicate with me or my IFA in spite of constant chasing. Absolute rubbish and I think fraudulent as well. Disgusted.

Reviewed on 10th June 2021
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Coppo
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Pension

Poor performing funds with the default pension option invested in one of their worst.

Of the 179 Royal London funds analysed 64.3% rated as poor performing 1 or 2-star funds. ... Read more

Of the 179 Royal London funds analysed 64.3% rated as poor performing 1 or 2-star funds. https://www.yodelar.com/insights/royal-london-review

Most of their funds are actively managed and fail to beat the benchmark whilst charging you activley managed fees. Moreover, the default option for pensioners is one of their governed portfolios (depending on how long you are from retirement) which have performed simply awfully. I'm 41 years from retirement and so should be looking to take a fair amount of risk and I've been stuck in governed portfolio 4 with a 5 year average annual return of 6% ish. Compare this to the 5 year return of the S&P 500 of 15%+ over the same time period (at the time of writing 30/4/21) this is simply a terrrible option from Royal London. Moreover, the fees available to put your money in the S&P 500 are as low as 0.07% (from Vangaurd and others) whereas RL charge an astonishing 1% (at their cheapest!) for you to lose money relative to the benchmark.

I wouldn't be surprised if there was some strategy to put the majority of pensions in these low performing funds to keep them afloat as the fund managers continue to lose you money relative to the benchmark.

Do your due diligence and check their fund performance for yourself: https://www.royallondon.com/pensions/investment-options/investment-performance/

And please please if you do chose RL (or have no choice) edit your pension away from the default option into one of the high performing tracker funds. If it's a tracker fund the fund managers can't actively lose you money and then charge you for doing so! :)

Reviewed on 30th April 2021
Edward's avatar
Edward
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Pension

Communications non exsitant!

Will not use phones pr emails to communicate.... Read more

Will not use phones pr emails to communicate.
Deliberately delay payments by putting obstacles in the way and passing to different departments.
Drip feed you bits of information by post. Never by email or phone.
I have also wasted over an hour trying to get through on the phone.
I know pensions are a long term thing, but they deliberately delay your pensions presumably so they can keep getting interest on your money!

Reviewed on 8th March 2021
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Rob Q
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Pension

The Satan Of The pension World

I have requested to transfer my Pension and have taken FCA approved financial advice, yet still they refuse to allow me to move MY money. I’ve now wasteD £1296 Seeking full approved financial advise. A quite disgusting company, avoid a ALL cost!

Reviewed on 29th October 2020
Enki 's avatar
Enki
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Pension

Totally useless

I have never known such a useless company... Read more

I have never known such a useless company
Totakly useless
Un professional and un helpful
Do not invest any money or pensions thru this company you will never get it back
It takes 2 months for them to reply to anything and another 7 weeks to send mail
You phone them and they can't help have no idea what they are doing
Can't get our pension money back
Hard earned cash that we have earnt
Next stop is ombudsman
Furious

Reviewed on 16th October 2020
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Kaz
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Pension

Terrible

our financial advisor recommended Royal London along with a couple of others to choose from. Wish we had never gone with Royal London. The charges taken by Royal London and our advisor are seriously wrecking an already poorly performing pension. We... Read more

our financial advisor recommended Royal London along with a couple of others to choose from. Wish we had never gone with Royal London. The charges taken by Royal London and our advisor are seriously wrecking an already poorly performing pension. We are changing both advisor and pension provider. Incidentally we have been told by a number of financial advisors we should never have gone with Royal London.

Reviewed on 3rd October 2020
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Janey
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Life Insurance

Good solid company to save with

Great company who have helped me to save a little nest-egg for the future.

Reviewed on 18th September 2020
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purpleclaire
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Life Insurance

Great Product, Very Happy

Very happy with the service I have received from Royal London. Feel satisfied that my life insurance product is with them.

Reviewed on 12th September 2020
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Rebecca Smith
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Life Insurance

Good value policy and excellent service

I've had my life insurance with Royal London for a while. They beat other quotes and seem reliable.

Reviewed on 16th July 2020
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Lisa
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Pension

Very Poor indeed

This company has made calculation errors on my pension statement for the past 5 years at least and having requested a transfer value the errors were identified and a poor letter of apology received. I have £20,000 less in value than was communicated ... Read more

This company has made calculation errors on my pension statement for the past 5 years at least and having requested a transfer value the errors were identified and a poor letter of apology received. I have £20,000 less in value than was communicated and the Ombudsman will be advised. The offer of £1k is equally unacceptable. Trust is important in your chosen provider as is integrity and the ability to add up! Reputation is clearly not priority #Royalcockup

Reviewed on 27th August 2019
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Gregory Bell
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