Having closed my pension, the settlement date of the last part of the fund was June 12th. As yet, no funds have been received 9 days later. Having worked in Financial markets all my life, most deals are settled at T + 2 days. Funds take less than 24 hours to be remitted anywhere in the world, sometimes instantaneously. So why the delay then ? This seems either at best incompetence, or at worst something more sinister. My financial advisor contacted them after a week, but they did not reply. I spoke directly on the phone, but they could not give me details as I was not the financial advisor. Fair enough, but they did say it had been sent for payment. So why the delay? Surely it must be illegal for companies to hold on to customer funds longer than required. I can only guess that their operations/back office is something from the stone age, or they are using delaying tactics.
Claim your business profile now and gain access to all features and respond to customer reviews.
