Welcome to this weeks latest Provider Update.
Please see below key pieces of information from the Provider we have engaged with during the past week.
Scottish Widows – Retirement Accounts – We have been advised that 10-15 working is the average turnaround
Scottish Widows – Corporate Pensions – Timescales are now quoted at 20 working days, Telephone hold times are no longer than 20 minutes.
Scottish Widows – GPP – Timescales are now quoted 10 working days, but we have been advised that these may be extended depending on type of request.
Scottish Widows – ex Zurich Policies (ZU) – Timescales are currently 10 working days.
Legal and General – Stakeholder Pensions – Lines are now open. Systems are running slower than usual. They are still unable to provide timescales. Telephone hold times of 20+ mins.
Aviva Pension – TK plans – Phone lines are open. Responses to LOAs can be done on the chaser call. Further requests can be delayed, timescales of 7 working days. Call wait is approximately 15 mins.
Aviva Pensions – F4, F5 and F6 Plans – Timescales are now almost back to normal, still quoting 15 working days, but we have found they are being completed before this.
Aviva Pension – BK plans – Timescales are currently quoted as 10 working days.
Aviva Pension – My Money – GS – Hold time are around 40 mins. Timescales have been quoted at 10 working days, please note that these need to be sent direct to the MyMoney email address as Aviva have a delay in forwarding requests to different departments.
Royal London – 7 digits, starting with a 9 – Timescales depend on the nature of the request, however most request timescales are back to normal (10 working days)
Royal London – 7 digits, starting with a 4 – Timescales are approximately 5 to 10 working days, however they usually confirm this in their automated response when the request has been sent through to them.
Royal London – Workplace/Employer Pensions – Business as usual. Timescales are quoted between 7 to 15 working days depending on what has been requested.
WTW Barclays Team – Timescales are currently at 5-10 working days, but they said there are no guarantees in the current climate. However, we are finding they are sticking to these timescales.
Standard Life – All policies – office opening times – Mon and Wed – 10am-5pm, Tues and Thurs – 9am-5pm, Fri – 9am-4.30pm.
Standard Life Elevate – usually begin EL – Timescales are beginning to get back to normal, they are still quoting 20 working days, but we are finding that they are being completed before this.
Standard Life – ISA Wrapper – Timescales are around 15 working days and are slowly getting back to their normal 10 working day turnaround.
B&CE (Peoples Pension) – We have received an email from B&CE explaining that they are almost back to their normal turnaround time and will be responding to requests in due course.
Hargreaves Lansdown – ISA/Investments – approximate 15 min call hold, have been quoted 10 working days but they have advised that this could be subject to change.
Aegon – RetireReady/ARC/One Retirement/Target Plans – Phone lines are now open, and they will speak to advisers. Bear in mind that lines are only open from 10am-4pm. LOA responses are general responses of 5 working days. Further requests are then 5-10 working days
Aegon – Ex Scottish Equitable – Requests are best submitted via the Aegon Online Portal. up to 15 working days.
HSBC Investment Fund – Call times are anywhere between 20 to 45 mins; however, turnaround times are 10 working days.
Phoenix Life – Ex Abbey Life policies – Timescales are currently 7-10 working days.
Scottish Friendly – Pension – Phone lines are now open – automated message says 8:30am-5:30pm.
Prudential – Pension Plans – 8 numbers long – Current telephone hold times are 40 mins plus, however turnaround times are back to their normal 10 working days plus postage.
Reassure – Personal Pensions -Timescales are still within standard response times for Reassure. 5-10 working days.
Utmost/Equitable Life – Personal Pensions – Majority of clients received Annual Statements in April. Also, can find general info on Utmost website, still not able to get client specific information.
OMW – Pensions beginning PP – Personal pensions and older plans have been taken over by Reassure. Still best to use email@example.com– timescales have remained the same, at 5 – 7 working days.
NOW Pensions – Call wait times are ok. Timescales are 10 working days, subject to change.
Zurich – Personal Pension – Zurich are open as usual, but they are working remotely. Timescales are 10-15 working days.
Sanlam Wealth – Pension plans -Timescales are quoted at 10 working days but vary between different plans (time taken out etc) and the type of request.
Quilter – Ex Old Mutual International Plans – They are only taking calls from vulnerable clients, who cannot email. Their email address is firstname.lastname@example.org
Capita – Pensions – We have been unable to get through to speak to anyone and have had to email for updates. Responses are coming in, albeit slowly.