“I am a pensioner and have been trying to get my payment from them for 4 months and have not received anything. They have blamed the COVID crisis, their bank and everyone other than themselves, but I still don't have my money. How am I supposed to pay my bills? They are a SCAM, watch out.”
“If I could give zero stars, I would! My pension was invested with Momentum by Abbey Wealth who claim to be regulated and registered in Switzerland as well as Spain and Ireland. They are shysters and should be avoided at all costs! Momentum obviously have some sort of deal going with Abbey Wealth Management, because they took my money - made themselves trustees, and reinvested it with Old Mutual, who refused to take instructions from me, because "I was not a trustee". They paid Abbey a fortune in commission and regular fees, took another small fortune for themselves which left me with less money than I started with 3 years previously. When I realised there was something smelling highly of scam or fraud, I contacted a different financial adviser who helped me to get most of my money back under my control - but that took something over 6 months and a lot of hard work, legal consultations and basic arguing with both Abbey and Momentum, not to mention fun and games with Old Mutual. Take my advice, don't deal with any of these companies. They will rob you blind!”
“Failed me as Trustees allowing two separate unlicensed advisors destroy my pension fund with high risk investments even though my request was low / medium. No respect or support for clients, just taking fees for nothing. AVOID !!”
“Despite charging me ridiculous fees for supposedly taking care of my pension, they won't give it back to me.
They got my money from a fraudulent "Financial adviser" too.
Please do not deposit anything with these thieves, you will not get it back”
“This is becoming outrageous. No chance of following their actions. At least they could ask beforehand if we agree to such and such option. Maybe there are out some special ''lucky'' ones, that not get ripped off? Don't know where is the safest option now and even worst I fear it is the political elite being lobbied by financiers. The little clerks in the industry are not the cause but merely earn their decent wages from ''losses'' and ''inflation'' from our pension funds and investments. That's the system. Never enough. No responsibility and always someone else is wrong, not them. Why can't be straight? Being straight nowadays does not pay off? We can call it a scam though its apparently not in the legal meaning. Some pretend to be more clever than others. Even if this would be brought before the judge, they would find a clerk to be the culprit.”
“Momentum Pensions allowed my IFA to sign dealing sheets on my behalf that went unchecked, allowing them to invest in funds that I would not have approved of. Only after 6 months of fighting with them did I managed to built a full picture. They do not provide you with documents requested and are very difficult to deal with. They certainly do not have the interests of the customer in mind when allowing deals to take place.”
“How to be conned in one easy lesson and that is invest almost £69k in this Company and loose almost £40k of it in just 2 years.
I think this Company preys on the elderly and need a severe lesson in how to handle hard earned Contributions from Salary from 1977 to 2010. Disgusting performance and one Star is not even deserved. Now they say that it is not them but another Company . As far as I am concerned my Agreement was with Momentum and nobody else. So wriggle out of that one. You aught to be ashamed of yourselves and shall suffer in Hell as far as I am concerned. I hope that you all can sleep well at night knowing what you are doing”
“I also wish there was a 'no stars' option.
This company have destroyed over a third of my pension fund - through exorbitantly high fees, investing in schemes which are not suitable for a pension and the really worst thing of all is that they couldn't give a sh*t that they have ruined mine, & many others like me lives.
Shame on you!!”
“Lost everything! Was told my pension would be invested in a LOW RISK fund. They lied, it was not I lost £45,000. My pension and financial stability gone. Do not trust them”
“Momentum have knowingly taken referrals from unqualified agents Continental Wealth Management accepting forged dealing instructions and placed clients money into high risk policies decimating their pensions. Momentum lack of due diligence and quality checks is appalling. They do not safeguard pensions and certainly cannot be trusted to act as a 'Trustee'”
“They have wrongly invested my private pension so I have lost nearly all of it.. my husband has died and I am only 60 so nowhere near pensionable age.. my life is hell.. thanks for nothing!!!”
“Absolute disgrace of a company. They’ve completely destroyed the lives of myself, my husband and entire family due to their fraudulent dealings and lack of interest in ourplight. They have no conscience whatsoever and to this day are stealing money from people. Shame on you. Merry bloody Christmas you shisters”
“Sadly the review does not allow me to put Zero stars. Momentum Pensions Malta Ltd have been the trustees of my pension for the past 4 years. In that time my pension has lost over 60% of it's value. This company does not act in the best interests of it's clients. It charges extremely hi fees and is to be avoided at all costs.
Once you are in you cannot get out, unless you pay an extremely high penalty clause, they pay Scamming agents ridiculously high commission to introduce you to their money grabbing account, you pay ludicrous maintenance fees, all with a promise of of favorable returns on a pension pot investment. I was not looking to get rich, just invest my Life long earned pension for security for the future, this company has seen fit to make me and thousands others, PAUPERS and lined their pockets AND the scammers with our money
DO NOT GET INVOLVED WITH THIS COMPANY IN ANY WAY”
“Momentum Pensions totally failed myself and many other persons as our Trustee of our hard earned pensions to ensure they acted in our best interests. Personally I have lost at least 80% of my pension fund due to their lack of diligence. They accepted forged dealing instructions from Cwm and continued to do so after being made aware of the scam and even paid compensation to at least one person whilst continuing to do business with Cwm. Shame on them. Best avoided like the plague!”
“The reader might well ask why so many reviews have anonymous names. It is because of the fear of reprisal from Momentum. They will find any excuse to ignore their failings as trustees. All the comments are 100% accurate .. I have lost nearly €200k on my pension portfolio due to complete disregard and lack of diligence on Momentum's part and the remaining €50k left is locked in a 'forged' bond that I knew nothing about with huge penalties for 'early' release, the penalty being based on my initial investment!”
“Unfortunately they have sat back and allowed fraudulent dealings lose 18k of my pension fund.
To add insult to injury they continue to charge exhorbitant fees for a product that was never suitable for the size of my pension pot.”
