Voya Financial Reviews 127

My mother had an annuity she paid cash into about 25 years ago a large sum of cash. Back then the Company was Equitable of Iowa. Later this company would be bought out a merged with Voya. Calling the Voya rep with our information on the annuity they tell us there is not account in moms name or SSN and the Acc# for the annuity does exist yet I am, looking at all the paper. Then they state will there is no really was of knowing anything about the account as those older records have been " purged" . They then ended our cal. So basically they are running of with my mother who is now 72 her saving she put away from my dad's passing 25 years ago and keeping all the money and interests.

If anyone knows a good lawyer hit me up>

Date of experience: June 09, 2025

I also work for HCA (saw another review) and the switch created some problems such as updating my withholdings and having no contributions for 5 pay periods. However, almost everyone at VOYA was kind, professional, and caring - and seemed to be doing their best to correct the situation. The issue was eventually resolved. A manager gave me her direct line to reach out if issue continued. The transition to VOYA was not the smoothest but, for me, has been corrected. This Trust Pilot Site has mostly negative reviews of not just VOYA but Fidelity, Schwab, and Vanguard - EVERYONE should be on top of their finances and monitor.

Date of experience: July 03, 2025

Not sure why HCA left the respected Fidelity with its financial fiduciaries to go with this *insurance company* VOYA but it was a huge mistake. I am beginning to think VOYA is completely incompetent with understanding 401k and Roth regulations and rules. This HCA switch to Voya happened this year - I increased my withholding percentage to hit my maximum this year. Since I elected to change my contributions - paycheck contributions went to ZERO for 10 weeks (5 pay periods) - I have little confidence that it will show up correctly in my next paycheck as promised. One VOYA employee told me she would see about making my contributions retroactive - is that a joke? Is VOYA deliberately making it difficult for us to maximize our benefits (employer match) or are they incompetent or both? Meanwhile, halfway through the year, I am waiting for my contributions to start (and keep getting told by VOYA "next paycheck or the one after") but my funds that did convert over from Fidelity are losing value plus VOYA is charging me management fees on top of that.
Not being able to contribute to my employer's sponsored retirement fund has serious tax and retirement and financial implications, and I cannot trust that my elected retirement contributions will be handled correctly any time soon. I also doubt that I can get the maximum benefit from my employer match. There are all kinds of bad reviews/complaints/SEC violations regarding VOYA online. This switch reflects badly on HCA.

Date of experience: April 22, 2025

That's a real pickle! But, Ample e 𝘥ges did an amazing job of getting my $415,000. Their support was outstanding

Date of experience: April 14, 2025

I Requested my account to be closed and filled out all necessary forms. And 3rd partying authorization. After about 3 weeks I received a call to verify info, said it was complete and taken care of. A week later I received a confirmation letter that the check will be mailed within a few days. Five days later no check received. I called and was told the form had an error and to start all over again. Waste of 42 days.
Started all over 2 weeks ago, nothing from voya yet? Avoid them. Poor experience and terrible communication. Deal with a local company you can visit.

Date of experience: May 01, 2025

The company we work for has changed our 401k from Fidelity over to Voya. THIS IS A TERRIBLE COMPANY TO HAVE YOUR 401K WITH. The company tried to sell it that this was good for the company AND us. IT IS A JOKE TO EVEN SAY THAT. This was a bottom dollar decision for management within our company and nothing else. We are now being charged something like 1% for them to have our money and we have a monthly fee we also have to pay just to have the privilege of them having (and making money off of our money). The fees for what is offered is also a good deal higher than fidelity. If your company is changing you to this company, do anything and everything to get your money away from this company. If you are old enough to roll your money over, do it! If you are not, strongly suggest to talk with a different company to find other options for investing and only putting what your company matches into the AON Pep plans your company has bamboozled you to be forced to donate to this company.

Date of experience: June 05, 2025

I had my retirement set up and worked through a contractor with local state government. I have had so financial difficulties and health problems and due to this have been trying to withdraw funds from my 401k with Voya Financial. I initially tried to take money out back in February but had problems getting my pin.

The account now is less than a 3rd of what I put in, in February and still they are not helping me to get my money. I’ve delay with horrible and I empathetic responses from staff.

My health is further deteriorating and I have been in and out of the hospital. It took 4 months to update my address so I am not happy with this added stress to an already stressful situation.

Every time I call I get a different answer and to be called the most ethical company their seems like their should be some consistency across the board.

I’ve had people lie and say they were managers, yell at me and hang up. I haven’t always been the most pleasant to speak to due to my deteriorating health and keep getting the run around.

My patience has run out and moving forward I would not put any money into a Voya 401K account. The manager I spoke to today said her name was Michelle and when I said that to her, her response was good, don’t.

If that is how they treat their customers than I rather not engage with Voya because if I wanted to be treated badly and talked to any kind of way I’d choose that.

Customer service is key because without customers you have no job or company even to run.

Date of experience: June 04, 2025

Only associated because my employer enrolled me in a 401k. After opting out I got a letter by voya that I will be auto enrolled an additional 1% every year until that number is 15%. After calling to unenroll (again) and waiting 40 minutes of sporadically waiting on hold the customer service couldn’t find my account (you need an associated social to even get on the phone with them) so my social is recognized but my money is no where to be found? Absurd. Wouldn’t trust voya to break a 20 much less manage my retirement fund.

Date of experience: June 02, 2025

Poor customer service and almost impossible to get paid and can never be compared to SPACE BANK.

Very respectful pay and solution center .

Date of experience: May 30, 2025

I currently submitted a claim for hospital indemnity in April. It is now May and I have not received my benefits they u pay for every month. The company keeps pushing my date back and not honoring there 7-10 business day. It has been a month and still has not received any benefits.

Date of experience: April 21, 2025

For 20 years I had no issues at all with Voya with a life insurance policy. Then I had to change the bank account my premiums were going to be drafted from last November and ever since then dealing with them has been an absolute nightmare. I get letters saying that I have asked for my EFT payments to be terminated and replaced by quarterly billing which I have never requested. I get letters telling me the EFT from the new account will start at a certain date and nothing happens on that date. I have spoken with Customer Service more times than I can count and I have also emailed about this... I get replies that make me wonder if anyone even read what I wrote and that suggest that I call Customer Service if I have more questions. This really should not be this difficult. Finally, last month (April 2025) a payment was drafted from the new account but I had already paid it over the phone because it was drafted several days later than expected. Then yesterday, after one successful EFT transfer I get 2 letters --- one thanking me for asking to terminate my EFT payments and another saying the premiums have been changed to quarterly billing. I am ready to tear my hair out! I spoke with someone a few minutes ago who assures me that this has now been corrected but I will believe it when I see it. I really don't understand how a company can do business this way. I'm not sure what to put for date of experience as this started in November and the most recent totally inaccurate communication is dated May 9. I'll put May 9 but it's important to know that that was not the beginning of my problem.

Date of experience: May 09, 2025

I have been working for over 2 months to get my money rolled over and out of VOYA and nothing. Every time I call it is more of just a wait and delay game.

Date of experience: May 21, 2025

Complete waste of time calling this company. I was planning to rollover my previous employers retirement into this employers retirement which uses Voya and the representative had no means or measures of success. They were unable to share any history of rate of return. I have an advisor who is unable or unwilling to advise. Bottomline, I will stay with Merrill

Date of experience: May 16, 2025

Worse company to work with, very incompetent. I request transferred my 401 from this company and it’s over a month and I still have not received it. First they said they mail out the check I called after 3 weeks after and was told it was sent out they issue another check I waited over 2 weeks and did not receive the check I called 3rd time they said they was going to send via UPS and it would take 3 business days I called a 4 time and was told the sent out the 2nd a day before. Very deceitful company don’t trust them

Date of experience: May 13, 2025

I had a 401k retirement account with them from a former employer. I requested to withdraw from my 401k but I also needed to update my mailing address because I recently moved. They emailed me a form to request to change my address. Then they said that I needed a PIN number in order to request to withdraw my 401k. So I waited 2 weeks for snail mail to deliver my new PIN number and I never received it. After 3 weeks I called again and to my shock, they mailed me a check to my old address with my money!!!! They told me that I couldn’t request to withdraw from my 401k until I had my PIN number but they mailed a check anyway?! To my old address!!! These people are so dumb! Now I have to waste another 2-3 weeks! Thanks Voya now I can’t pay my bills!!!

Date of experience: May 12, 2025

I've been trying to claim a beneficiary account after my mother passed away. I sent the forms off and they replied they haven't received anything. Sent them off again, and they replied saying I checked a box which I did NOT check and I need to send in a new form. Complete and utter lies to keep my money. As if losing my mom wasn't hard enough. I cannot believe for the life of me that they are voted more ethical. Steer clear of this horrid company.

Date of experience: May 07, 2025

I was on medical leave and went through Voya Financial to pay my monthly premiums. Supposed to get a refund from them regarding my premiums. They mailed it out on April 4th, 2025, and it is now May 3rd, 2025. Where is my refund?

Date of experience: April 04, 2025

Beware of this company ! They are highly manipulative and only interested in continuing taking your money , Making a claim is a highly cumbersome task and almost impossible

i figured out the hard way that SPACE BANK is the easiest way if you wanna get educated and build some wealth.

Date of experience: April 30, 2025

I would give this company a zero if I could never trust this company they are deceitful and told me something 25 years ago that’s not true that I would never need to fund my life insurance recently. I just received a bill for $1600 to be paid in two weeks otherwise my policy of 2526 years will lapse. I was a state employee and faithfully paid this policy for all those years. I couldn’t find anybody that spoke English all complaints go to outside America. I finally got someone to call me back from America two days later and she was no help never buy from this company. It is a rip off.

Date of experience: April 12, 2025

Voya transferred my mother's IRA annuity to Resolution life. When she tried to surrender the annuity, Resolution gave the wrong form, but I had to hunt down the assigned agent to get the correct form that is not available anywhere on their website or online. I get the correct form and Resolution's site keeps giving an error when I try to upload it. There is no one to contact. The form provided a Voya email address. I emailed it AND snail mailed it. The account is closed, but WHERE IS THE MONEY? This nonsense has cost us three months to execute a simple transaction. Our last experience when she requested an RMD they dragged their butts to cut the check. They make money off the float with no interest paid to the policy holder. Now, I am concerned that while they are dragging their butts again, the policy which is invested in the market took a down turn in value. The market was higher when the first request was mailed and emailed.

Date of experience: April 05, 2025