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Standard Life: Drawdown reviews

Name: Drawdown
Rating: 2.33 (6 reviews)

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1.92

Based on 6 reviews, last reviewed 2nd Jan 2025

No new 5 star reviews

in the past 90 days

100% increase in 1 star reviews

in the past 90 days

33%

4 star

3 star

2 star

67%

Latest highest rating:

5

A well managed product and company My pension is well managed and looked after by a great team and easy to contact if I need help or information. Reviewed on: 29th August 2023

Latest lowest rating:

1

5 errors in setting up and paying drawdown, payment... 5 significant errors in setting up drawdown, payments not made, incorrect reporting to HMRC ( 3 times) always blame ‘back office errors’ appalling lac... Read more Reviewed on: 2nd January 2025

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Our Standard Life annuity reviews can help you to learn more about this annuty product. Before you buy your Standard Life annuity, take a look at what other policy holders have to say. If you already have an Standard Life annuity, you can write yours on Smart Money People - the UK's leading financial review site. Together, we can help us to increase trust and transparency in financial services.

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Standard Life Drawdown reviews (6)

5 errors in setting up and paying drawdown, payment...

5 significant errors in setting up drawdown, payments not made, incorrect reporting to HMRC ( 3 times) always blame ‘back office errors’ appalling lack of communication, appear to have no process or feedback from phone support to those processing. Avoid if you don’t want to repeat my 8 month nightmare journey Reviewed on: 2nd January 2025

Charges

Charges are too high compared to other SIPPS, I will be moving my money. Over 6 yrs no returns on my pot and paid £25k in charges Reviewed on: 5th September 2023

A well managed product and company

My pension is well managed and looked after by a great team and easy to contact if I need help or information. Reviewed on: 29th August 2023

Absolutely appaling service

Standard life are now expecting you to wait 20 days plus to withdraw your pension. Giving that 13 months ago you could expect to receive within 2 to 8 days. Clearly their staff are working from home -very rude staff at that. Shame on you standard life you clearly need to be rate worthy pension company ever. I will be moving mine ASAP. Reviewed on: 15th February 2023

Didn't even want to give them one star

Didn't even want to give them one star! Just had a conversation with Standard Life about Equity Release as my husband and myself would like to release equity in our home so we can enjoy it. Whilst we fitted the criteria of this, we were told that we couldn't invest the money into our existing pension pot so we would receive interest on the lump sum to benefit us and so that we could draw down on the sum twice a year like we do now. We were told that we could only put it into a bank account!! What right minded person would put a couple of hundred thousand into their current account with little or no interest. When speaking to their adviser, I was told that I seemed very astute about financial matters and then to be told my husband and myself could not use the money as we wanted was not only insulting but left me astounded at their advice. Reviewed on: 18th May 2022

Good produce, Easy to deal with

Good produce, Easy to deal with, They always respond quickly when I need them to Reviewed on: 17th February 2021

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