Complaints
This profile includes complaints for Principal Financial Group's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 318 total complaints in the last 3 years.
- 90 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:09/29/2022
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I submitted a hardship request on 9/13 to prevent foreclosure on my home. I have submitted all required documentation. I have called principal twice, only to be placed on hold for 20+ min each time, then instantly disconnected once the call gets answered. I have sent a "contact us" form on the principal website also to no avail. I am trying to keep a roof over my family's head, please help!!
Business Response
Date: 09/29/2022
Thank you for forwarding. Principal will respond directly to the complainant.Customer Answer
Date: 09/29/2022
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.
Sincerely,
***********************Initial Complaint
Date:09/26/2022
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I requested a hardship withdrawal on 9/9/2022 with documentation two days later to colony via email as they told me this was the only way. I called back on 9/16/22 and they never received my documents I sent. I was told you could upload them all the sudden. I have not heard back in the 2 weeks to process my request.Business Response
Date: 09/26/2022
Thank you for forwarding. Principal will respond directly to the complainant.Initial Complaint
Date:09/21/2022
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I took a hardship withdraw , I filed out the paperwork and submitted with Correct banking info I recieved a message confirming that the funds were sent over but to the wrong account information other than what was listed on the form . I called my bank and they state they.dont have an account with that last four numbers so was rejected and sent back. My money is out of my 401k and they stated I would have to wait for the funds. This is not my fault. I would like this rectified as soon as possible I needed the withdraw for a medical procedureBusiness Response
Date: 09/21/2022
Thank you for forwarding. Principal will respond directly to the complainant.Customer Answer
Date: 09/21/2022
Complaint: 18055824
I am rejecting this response because:This is clearly not a three that I placed on the form if the banking information I placed over was not readable the transaction schouldnt of just been sent with out verifyed with the owner what the account info was. Also I do not like calling this company and getting inconsistent answers.
Sincerely,
*************************Business Response
Date: 09/21/2022
Thank you for forwarding. Principal has responded directly to the complainant via phone call.
Initial Complaint
Date:09/20/2022
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I put a request in on 9/3 and it is now 9/19 the day before my "closing date" and I still now have no update on my withdraw request. All my documentation was provided at the time of my request and I have made several phone calls asking for updates with the same answer that my claim has not been assigned to anyone yet and there is a high volume of request. I have spoken to multiple reps and now a Supervisor who says I have "no authorization" to request to speak to anyone else. I had no information that if it is an urgent matter a "rush" request can be provided but I'm well aware that this just supposed to make clients stay quiet and sit and wait. This is money I contributed to this company and I am well aware that it is MY money sitting in there. I think this company should be ashamed I found complaint after complaint filed by other people experiencing the same situation and I hope this company cares enough to resolve them, my own loan officer who's been working for 13 years has never seen a client struggle and wait this long for a response on a return.Business Response
Date: 09/20/2022
Thank you for forwarding. Principal will respond directly to the complainant.Customer Answer
Date: 09/20/2022
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.
Sincerely,
***********************Initial Complaint
Date:09/16/2022
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I was awarded a 401k account through my ex-spouses employer which is through Principal. I have been attempting to request a distribution from this account (I do not work for the company) and they have not been responsive and my requests are canceled after two weeks. I have called them countless times and there is nothing they can do nor will they let me speak with a physical person who handles and processes these requests. I have contacted the *** and they have personally, an actual human being has assured me that they have in fact approved the request and sent it back to Principal. The *** has also contacted their counterpart at Principal to assist in this issue. I have no way of fixing this and Principal is essentially holding my funds hostage.Business Response
Date: 09/16/2022
Thank you for forwarding. Principal will respond directly to the complainant.Initial Complaint
Date:09/16/2022
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Filed for a withdrawal on 8-22-22, didnt hear anything for 2 weeks, i called and ask what the problem was. The man I spoke with said all was good should get my money in a couple of days. I received an email on 9-22-22 saying they need another evection notice, i sent and now can't get any info. This company has zero customer service, this is my money not a loan!!!Business Response
Date: 09/16/2022
Thank you for forwarding. Principal will respond directly to the complainant.Initial Complaint
Date:09/14/2022
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
On August 11th I filed for a hardship, due to me being out on medical leave. I was having surgery on August 30th. On August 21st I called principal because I haven't heard anything, he told me that it takes at least 14 days to get. On August 23rd I called again because I still haven't received or heard anything. I then spoke to a retirement supervisor by the name of ****, she told me to send her another copy of my lease showing that my lease is month to month and a letter showing how much I'm behind on my rent. I sent everything again. She then left a message saying send her a letter again showing how much I'm behind in rent with a current date and that my lease was missing pages, I sent the letter at her request again, as for the lease, I told her that that was my lease and that it wasn't missing anything and who was she to tell me and my landlord how long my lease should be. She then told me again that she was going to put a rush on my situation. I never heard from her again until after my surgery, I told her that this was unacceptable, here I just had surgery and is being evicted on the 30th of September and you keep asking me to send documents that I've already sent you 6 times. I told her that I wasn't sending her anything else, because the damages has already been done and that I pray to GOD that me or anyone else never have to go through this again. If it wasn't for my landlord I would have been recovering on the streets. Now she won't answer my phone calls or emails. It doesn't matter because I'm still being evicted the 1st week of October. I also told her that I want nothing to do with principal again and to send me everything that I'm entitled to. Its not right what they are doing to me and othersBusiness Response
Date: 09/14/2022
Thank you for forwarding. We will respond directly to the complainant.Customer Answer
Date: 09/15/2022
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.
Sincerely,
*********************************Initial Complaint
Date:09/14/2022
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Ive been trying to withdraw my 401k contributions for almost a month now and when Ive called them they say their waiting on a maintenance issue and or some modification with my previous employer. Im owed roughly $1900 and thats my contributed money!Business Response
Date: 09/14/2022
Thank you for forwarding. A representative from our participant contact center reached out to ******************** this morning and discussed this issue and the action needed.Customer Answer
Date: 09/15/2022
Complaint: 18023547
I am rejecting this response because:
Issue was not resolved.
Sincerely,
***************************Business Response
Date: 09/20/2022
Thank you for forwarding. We have responded directly to the consumer. Thank you.Customer Answer
Date: 09/20/2022
Complaint: 18023547
I am rejecting this response because:
Issue remains unresolved.
Sincerely,
***************************Initial Complaint
Date:09/14/2022
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I got a 401k with this financial group but I have been waiting for almost a month to withdraw my money and they still tell me my employer hasn't send them that I resign since August 24th. I have spoken with employer and they said they have advised them already.Business Response
Date: 09/14/2022
Thank you for forwarding. Principal will respond directly to the complainant.Customer Answer
Date: 09/15/2022
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.
Sincerely,
***************************Initial Complaint
Date:09/09/2022
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I filed a hardship withdraw request 23 days ago on a hardship with a strict deadline. Upon completing the request I was advised it would be processed within 14 days as long as all documents were uploaded. I uploaded all documents however, the request was not completed. I figured there was a likelihood they meant 14 business days even though the site does not say business days, so I reached out to the organization I needed to pay and requested an extension. It was then extended to September 10. After seeing no movement on the 14th business day, I called once again. I was told that I would need to provide the extension letter and if I uploaded now before the review was complete it would help things move faster. So it was uploaded around 11am EST shortly after disconnecting my call. I called again yesterday after still receiving no updates and movement and was told they cannot contact me because they had my work email rather than personal email on file. So they changed my email, assured me someone was reviewing it while I was on that call, and then transferred me to another person who assured the same thing and hung up. I attempted to call today and as soon as I was off hold the answering person simply disconnected. Ive since canceled all future distributions and will work on establishing a personal retirement far away from this company, but I would like this specific issue to be resolved ASAP before I have to yet again try and work with the organization I need to pay for another extension when we are WELL past the 14 days originally quoted upon request.Business Response
Date: 09/09/2022
Thank you for forwarding. Principal will respond directly to the complainant.
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