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Standard Life: Pensions reviews

Name: Pensions
Rating: 2.26 (57 reviews)

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2.19

Based on 57 reviews, last reviewed 14th Sep 2024

100% increase in 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

18%

12%

56%

Latest highest rating:

5

I love Standard Life. I love Standard Life. Their app is so easy to use. Any queries I’ve had have been dealt with quickly. I wouldn’t hesitate in recommending them! Reviewed on: 14th September 2024

Latest lowest rating:

1

Poor pension system landed me with a £32,000 tax bill Tried to make a £300 withdrawal from my pension pot of £73,000. Selected the pot to suture from and Entered the £300 into the amount of withdrawal. Th... Read more Reviewed on: 26th March 2024

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About this product

Standard Life 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 Standard Life pension reviews to find out what life at Standard Life is really like. If you hold this pension, we'd love you to write an honest review here too!

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Standard Life Pensions reviews (57)

Poor perfoming compared to competition

Why are the majority of your funds performing badly, whether its risk 3 or 7 it isnt making any profit in a high inflation environment and charging us for the pleasure. Prevoius excuses of Covid/Ukraine/Brexit/COLC dont wash as other providers are managing to make a profit. If it wasnt a company pension where I have no choice on the provider I would have left last year. Reviewed on: 22nd June 2023

Horrendous Pension provider

Horrendous Pension provider. Please make yourself a favor and keep away from them. Reviewed on: 10th May 2023

Not truthful

Hidden transaction fees even although I was told that they do not charge Reviewed on: 16th March 2023

So far so good

Have been with Standard Life for 6 years now. I find their portal good and their customer service good . I must say that thus far I've I have only been paying in not performing any form of drawdown where it seems a lot of folk have complaint. So far all my detailed questions have been answered in full. Reviewed on: 5th March 2023

garbage company

Burn your money it would be better than having them handle it PERIOD Reviewed on: 21st February 2023

Beware this company

I have had a company pension plan with Standard Life for a number of years. After retiring I attempted to withdraw some of my pension pot but the experience in trying to do this has been excruciatingly painful claiming that the account number and sort code details of a major UK bank that I have been with for many years could not be verified. During a two hour conversation of my request to withdraw funds Standard Life tried to dissuade me from going down this route, trying to confuse me and instil uncertainty. I would give this company a wide berth because as easy as it is to pay money in it is doubly difficult to draw money out. Reviewed on: 4th February 2023

due to retire next year

I thank god most of my pension is in a final salary scheme. I have been forced to allow standard life to manage my pension since my company closed its final salary scheme. in 4 years the only money currently in the pot is what my employer & I have put in. Standard life have achieved nothing in that time other then take their commission. Lets be frank, they don't have to try too hard since final salary schemes closed all over the UK. most employers are legally obliged to offer a pension so between standard life and the other big pension suppliers, its money for old rope. They don't really have to try too hard as they have a captured market. I feel sorry for anyone starting a pension in 2022 knowing they are going to rely on the likes of standard life to invest it over 40 years. They will be lucky if they get what they put in over that time back. Reviewed on: 20th December 2022

Appalling advice

I had a small draw down with S Life. I received a letter from them stating October would be my last draw down as I no longer had enough funds. I had lost so much that the draw down actually finished a year earlier than originally thought. I contacted the company immediately to ask how I could withdraw the final small sum. I was told I needed a form to withdraw the cash and one would be in the post 1st class.... this form never arrived after 5 days i rang again and was told to wait another 5 days due to ‘postal problems’ form never arrived so spoke to CS yet again when I was told another was in the post but I could also fill in online and they would send me a copy. An acknowledgment to say it was received was sent to me but nothing further. Rang CS yet again and this time was told I could withdraw the small amount ONLINE! Nobody had mentioned this before. However I am still waiting for my money even after various emails plus a complaint lodged. These have all been ignored! Not sure if I will ever see my money., Reviewed on: 28th November 2022

Disgusting

24 years of pension contributions and not one penny profits from it , minus 999 pound to be exact , terrible performance , would recommend to avoid at all costs , total disappointment and left me very angry Reviewed on: 25th October 2022

What a waste!

My employers selected Standard Life to manage their workplace pension, so we didn't have a say. During the 7 years that my pension contributions have been invested with them, they have lost value. I would rather have had the benefit of the money in my pay packet, as once inflation is taken into account, I am worse off. I wish I had never opted in to this scheme. Reviewed on: 21st October 2022

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