I have an issue with my pension – what do I do?

Last updated: 04 Mar 2020

The first step before making a formal complaint is to determine what has gone wrong and the implications of it. The four terms for pension complaints that are useful to understand are: maladministration, financial loss, loss of expectation and stress and inconvenience.

  • Maladministration – inefficient or incompetent management of your pension.
  • Financial loss – maladministration has resulted in you losing out financially.
  • Loss of expectation – maladministration has led you to expect a greater entitlement than exists.
  • Stress and inconvenience – maladministration has resulted in stress and inconvenience to resolve the situation and take appropriate action for your personal finances.

When you write your complaint you need to be concise but comprehensive. Explain clearly what you are unhappy about, how it has affected you and how you would like it to be rectified.

You may wish to contact Prospect at this point for support with your complaint. The level of support provided will depend on the nature of the complaint.

Internal dispute resolution procedure

We recommend reviewing the complaints procedure for your pension scheme before submitting a complaint. Normally pension complaints regarding pension schemes need to be made in writing addressed to the Complaints Manager. We would expect your complaint to be acknowledged and to then be investigated.

Pension schemes normally have a two stage internal dispute resolution procedure. Stage one is for the initial complaints and stage two is to appeal against the determination of the stage one complaint.

Get help

If you have further questions about this contact us for more help.