ComplaintsforVoya Financial Inc.
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Complaint Details
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Initial Complaint
10/12/2023
- Complaint Type:
- Billing Issues
- Status:
- Answered
I was no longer with the employer and understood that the participation length in the plan would not leave me entitled to any employer funds, but my contribution could be rolled over. The agent advised of a 150 termination fee, but it would not be charged if the balance being rolled over was less than 150. The balance was 106 and the entire amount was kept. I went through and spoke with a supervisor who left me a voicemail acknowledging the agent gave the wrong information and was talked to, but outside of that my money was never rolled over though all my roll over information was given. No one ever followed up until I continuously.Business response
11/01/2023
The customer was provided a response on October 31, 2023.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.Initial Complaint
10/11/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I applied for a hardship withdrawal from my 401k in order to prevent eviction so that my family would not be put out on the streets. I supplied the documents listed on ****'s website in order get approved which is a letter on company letterhead stating the amount owed to prevent eviction, address, dated within past 4 months, and specified months owed. However, when I called Voya, the supervisor stated it was denied because it did not specifically say "Pay to stay"(which is not listed as a document requirement on their website) but the letter did say "If you wish to discuss possible reinstatement of your right to continue living in the dwelling, please contact us at *************." which is letting them know that there is an option to stay if the rent is paid. Last year on 9/29/2022, I submitted a request for a hardship withdrawal for the same reason and the letter from the rent office was almost identical to the one sent in this year. It was approved! I attached both documents to this complaint along with the document requirements listed on the company's website. I will also be filing a complaint with my company about Voya since they are the ones that thought it was a great idea to switch to them. This is unfair and unjust. If this is not resolved and my family ends up being evicted, I will be filing a lawsuit against ****. I have already taken a snippet of the webpage showing the document requirements. Times are too hard for them to be doing this kind of stuff to people. Obviously, **** does not care about people, and I will be filing a complaint on every social media outlet and ******* I also have a meeting scheduled with HR to share this with them as well.Business response
10/17/2023
The customer was provided a response on October 17, 2023.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.Initial Complaint
10/04/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I requested a termination withdrawal on **********for the 401k Plan I had with a previous employer, At that time I was sent an email to contact them via phone at which point I was told they would have to contact the plan administrator to approve the termination w/d. I explained that this would pose difficult since they went bankrupt and shut their doors in 2019 but they said they always had a contact person. I never heard back. Requested again the same withdrawal 08.31.2023 was told the same thing, but this time that a ticket would be escalated with my concern and to call back in a week. I did call again on ***** and was given the run around AGAIN. I called again on 09.22.2023 and was told my withdrawal would be processed in 5 days. Today is 10.03.2023 the withdrawal still shows pending and when I called in to get status was told yet again that they have to reach someone at my previous employer, I AGAIN explained that there is no one there despite what there system says and that there has to be a work around for this situation. I asked to speak to a supervisor and was placed on hold now for over half an hour with no one checking in on me not one time. They will not release my fundsBusiness response
10/16/2023
The customer was provided a response on October 5, 2023
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.Customer response
10/17/2023
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:After escalating my complaint to the BBB, Voya has finally accepted that they cannot reach my previous employer and has now told me they have to go through another process that can take up to a year to resolve! My first request to close my account was in February 2023 I now am being told I have to wait another year for my funds to be released!
In order for the BBB to appropriately process your response, you MUST answer the question above.
Sincerely,
***********************************
Business response
10/18/2023
The customer was previously provided a response on this matter. The issue is with the ********** of ***** as this is an abandoned plan. Voya considers this matter closed.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.Initial Complaint
10/02/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Voya Financial Services administers my ************** FSA plan and they are holding funds because they will not allow me to submit expenses for reimbursement. Every time I submit an expense, their system errors out. I have called them several times and they are unable to resolve the issue.Please help me get reimbursed for my eligible expenses.Business response
11/01/2023
**** has made numerous attempts to connect with this customer both via phone calls and email. The customer has not responded back to us. At this time we are closing this out and will re-open if the customer reaches back out.Initial Complaint
09/26/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
Was employed by a company that utilized Voya Financial Services for the company's 401k. They have this very effective 'security' loop where they require a PIN number to do anything, but you can only get your PIN via snail mail-- and that PIN, they swear gets mailed to your current mailing address- however it never arrives. You call- they tell you they can resend a PIN, but that's all they can do. Try to just cash out the stupid thing. They say you need a PIN- I cannot even log into the site any more- says i need a pin. Called again today- they cannot do anything but 'send another pin'Business response
10/16/2023
The customer was provided a response on October 16, 2023.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.Customer response
10/17/2023
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
Sincerely,
*********************
Initial Complaint
09/25/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
**** has been sending me mail regularly regarding a retirement plan that I never participated in. This was acceptable for a time as it was related to employment, however I ceased to be an employee as of January 12th, 2022. I contacted **** over a year ago to complain and asked them to stop mailing me documents as I did not participate in the plan and am no longer employed with that company that was using their retirement plan. I do not recall the exact nature of the conversation or the resolution. However my former employer has now ceased to exist for over half a year (the company was purchased and dissolved in February 2023) and now I am continuing to get mail for this plan for a former employer that no longer exists. I want them to erase my data and cease contacting me.Business response
09/29/2023
The customer was provided a response on September 28, 2023.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.
Initial Complaint
09/21/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Voya is using predatory practices when customers want to roll over their 401Ks to a new 401K under a different financial service. In order to gain access to a customers money that they have applied to their 401K a customer must have notarized paperwork that can only be shared back to Voya by a real fax, not e-fax machine, or by mail. Notarization is understandable. A real fax machine results in unnecessary fees and the lack of encryption lends itself to security issues. In addition, if these files are being maintained on any server they hackable. So the reasonable explanation as to why a real fax is required is to make it harder and more expensive for a customer to have access to their retirement money. Almost no one has a fax machine these days. Even the company that I gained this 401K didnt have a fax machine. And they are a large non profit.Business response
09/29/2023
The customer was provided a response on September 21, 2023.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.Initial Complaint
09/15/2023
- Complaint Type:
- Order Issues
- Status:
- Answered
I am a 63 years old retired nurse who's employer sponsored retirement plan is managed by ****. For the past month I have been trying to obtain my money from and they keep telling me to contact my employer. My employer has sent me a letter indicating Voya does not require their approval and they should release the money. This has been going off long-enough. My next step will be to contact my congress person and a lawyer.Customer response
10/10/2023
At this time, I have been contacted directly by Voya Financial Inc. regarding complaint ID ********, however my complaint has NOT been resolved because:
[Your Answer Here]
They have contacted ****************** in ************, where my retirement money comes from, and asked ********* to approve it, and ********* has done nothing. It has been 7 weeks now, for something that should only a few days. Will now file a complaint against *********.
In order for the BBB to appropriately process your response, you MUST answer the question above.
Sincerely,
*****************************
Business response
11/01/2023
The customer was provided a response on October 31, 2023.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customer’s complaint. Thank you.Initial Complaint
09/06/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
I am an employee of Publix with a 401K. A few months ago I noticed that there was a name on my profile and a birthdate of a person unassociated with me. I do not know her. I contacted **** in June and it has yet to be corrected. They say it will be fixed and they finally gave me a date of August 25th (Supervisor ******), but as of September 6th it is not corrected. This is my retirement. I spoke with a **************** Rep yesterday and was again promised it would be fixed in a week. A message was left with Supervisor ****** that if it was not corrected today Sept 5th, I would contact the state AG and BBB. This is incompetent and I need this fixed. *********************************Business response
09/19/2023
A response was provided to ******************** on September 8, 2023. Voya considers this matter closed.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.Customer response
09/19/2023
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
Sincerely,
*********************************
Initial Complaint
08/30/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Requested to close 401k account on 8/10/2023. Started calling Voya after check not received in 7 business days was told to wait. Called after 10 business days and told to wait .. calked on 11 business days and asked for a manager but *********** representative set phone down and stopped responding. She also mentioned the lady yesterday cancelled and re-issued a check with out my permission . Still dont have funds. In addition they took out an early termite dispute the fact I hit ***** while at work and laid off for joy performing. Please h*** get my money I contributed back.Business response
09/07/2023
A response was provided to *** ***************;on September 7, 2023.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.
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Customer Complaints Summary
194 total complaints in the last 3 years.
108 complaints closed in the last 12 months.