Railpen Reviews 13

If i could give them a ZERO i would.

Promised my pension money. On 3 different occasions/ dates. Chased them up again today. Its in the system. You will receive Thursday/Friday this week.

AVOID AVOID

I have been trying to track a lost pension from the Eastern Electricity Board from 50 years ago. .
Railpen notified me that I did have a pension with the company but I was paid it in full as a lump sum in April 2010?
I have no recognition of this, so I spoke to my bank who went back to my account transactions 2 weeks before that date and 3 weeks after and found no unusual payment?
They asked me to ask Railpen what the amount of the payment was and also how it was paid to me, cheque or direct to my bank so they could do more investigation ?
I have failed to get in touch with them, sent 4 emails over the last 4 weeks but had no confirmation they received them or answers to my questions?
Also I do not understand how they managed to track me down after 50 years?
I tried to phone today but it just rang out.
I might be over thinking this but it is seeming very fishy?
Loosing the will to live very quickly.

Because of their incompetence they have lost me £8K in tax free income and around £1500 per annum in pension payment. My projections were higher at 60 but lower at 61 and I've had a pay award. I had put my claim in good time even resubmitting forms that I had already completed. Was told everything was in order. Now I have to initiate the process again and it can take up to 3 months to complete. Wait nearly 40 years to claim, incompetence is not the word I really want to use.

Totally incompetent, like others on here they were appointed by a previous employer. I received a letter saying my pension would be paid within 10 days, after the 10 days I phoned only to be told that it hadn't been put through and it would be another "couple of days"....a week and a bit later I'm still waiting - my advice if you have a pension pot elsewhere and are able to transfer, do so before you need the money to ensure you get access to it. Forgot to say, they LIE constantly - do not trust them!!!

DO NOT INVEST WITH RAILPEN!!!!!

I joined BTP and left within two years. Three of my colleagues did the same.
All three were given the option of there contributions back or to transfer the pension elsewhere. Myself being the only female was offered only to transfer my pension within three months or lose it. I have nowhere to move it and was told I would simply loose it. HELLO, You have taken 300 a month from my salary up until the day I left?? This company is making a massive profit spending my hard earned cash. Furthermore I believe it is an expansion of the sexist discrimination I recieved whilst serving. I cam evidence my colleagues payouts and the difference in the service recieved and find it shockingly appalling. I am not surprised by the other reviews. I am now looking to start legal proceedings against railpen. Please read all the reviews before you agree to contribute a penny. Absolutely disgusting company

My dad passed away in June 2024 and was policeman for over 20 years with the transport police. We use the "tell us once service" as recommended by the registrar when registering dads death. After 2 months we heard nothing from them. I rung to ask them whats happening and they said they are a private pension company and hadn't been informed. I informed them and asked them to process the outstanding pension claim for my mum (now a widow as of June) first thing they did was send a bill / demand for an over payment and say they wouldn't process the claim until the over payment was repaid ? THEY ARE SITTING ON A POLICEMAN'S PENSION FUND WORTH THOUSANDS OF POUNDS ? The correct way surely is to process the claim and give options to the widow to pay back the over payment once they know their entitlements ? I cant get hold of anyone at their registered numbers and sent emails registering complaints and still not had a reply ! DAD WOULD TURN IN HIS GRAVE SHAME ON YOU!!!

They are terrible! It took nearly a year to get my pension released - I ended up phoning them every two weeks to be told it was in the system, just waiting sign off, I would get the paperwork soon. Constantly. Nothing happened until I threatened to take them to the Ombudsman … suddenly I had my paperwork within the week.

Now 2 years later and I’ve found myself overpaying in tax (a 4-figure sum) because my first 2 years pension went through in 1 financial year. HMRC have informed me that they can’t make any changes on my say-so, they need an Earlier Years Adjustment from the provider. Fair enough … I raised this with Railpen, it took them 3 months to come back to say it’s nothing to do with them, I need to sort it out with HMRC myself! I replied with copies of the communication between HMRC and myself … no response.

This time I am going to the Ombudsman.

Absolute joke of a company.
They require 10 working days to even acknowledge an email, let alone action it.
Applied for my pension on 17th March this year, it's now 22nd May and NOTHING.
They ask for the same information time and time again and deny receiving it!

How much money is this company making by delaying pension payouts?

ABSOLUTE WASTE OF SPACE.

I've never spent so much time on hold with no result.

Pathetic customer service.

I live abroad in Netherlands. I know it's not a lot compared to some others but I've been waiting for months for my pension. They write to me saying they need more info, I call and they say it's a mistake as they already have all the info they need. A month later we go through the same process. This has happend Four times. I don't know what's going on. The person on the telephone says he will instruct Admin to speed up and guess what, I get another letter so I call and guess what they say they have everything, it must be a mistake. I have terminal cancer and I would just like to enjoy a little bit of my pension before I go. I'm at my wits end. It's a tiny, tiny pension. Why are they doing this?

I've now been waiting eight months to receive my pension payment from Railpen. I live overseas in Australia and it has been extremely challenging getting information as to why my payment has not yet been made. All I want is a truthful and informative response as to why the delay and if payment will ever be received.

Genuinely believe they’ve deliberately designed a bureaucratic management system to slow down the decision making process allowing them to hold on as long as possible to your money and squeeze every ounce of interest possible for their own coffers before releasing it to where it rightly resides.

This has been the worst company I've ever dealt with , I was ill health retired from the railway after being attacked twice, I was told to apply to then rmpi for my ill health pension , they sent me to bupa who in turn advised I qualify for incapacity. But railpen board over ruled the bupa report as the report said if I got firth help there could be other jobs I could do , I also made the mistake of telling them I didn't want to be sick and wanted to work , they used that against me saying I aid I wanted to work , My diagnosis has gotten worse to the point I've been given a blue badge , Rmpi/railpen promised me return calls , they would send out paper work keep me updated , only twice did the contact me after I counted them 30+ times , They told me to go to the pension ombudsman, 3 years later they have ignored requested for information last month they promised to send out paper work but yet again they have fallen silent , I'm at my witts end with this company, avoid at all costs