A survey by Liberata has found that three quarters of pension policyholders would leave their current pension provider if they experienced bad service. Sixty five per cent of policyholders said that they would change providers if it didn't provide them with clear and useful information to help them understand their pensions, and 72% said that they would switch if their current one did not inform them or keep them up to date with new regulation and the effects it would have on their pension.
Our view
Providers charge top rate charges on their pension funds so they should offer top rate service. As a Nation, we are becoming less tolerant to poor service which is good.