Business Profile

Investment Management

Voya Financial Inc.

This business is NOT BBB Accredited.

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Complaints

This profile includes complaints for Voya Financial Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see

Customer Complaints Summary

316 total complaints in the last 3 years.
133 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The 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:02/21/2025
Type:Billing Issues
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.
On December 12 2024 I contacted Voya Financial to request a direct rollover from the 401k account under the ****** CLEARCOVER 401(K) RETIREMENT SAVINGS PLAN. The funds were rolling over direct to another broker, Empower, into a 401k plan. The idiot who handled the transaction hit me with two penalties - see below - which should NOT HAVE HAPPENED. Additionally, it is impossible to send a complaint to this ridiculous company - they have no options to communicate with them other than making a phone call during the business day when EVERYONE is also working.12/12/2024Forfeitures7452 Nuveen Lifecycle Ind 2035 Fd R6Employer Matching-2.429$19.439($47.21)12/12/2024Forfeitures7452 Nuveen Lifecycle Ind 2035 Fd R6Employer Profit Sharing-85.531$19.439($1,662.64)I have confirmed with my Tax Attorney that NO PENALTIES WHATSOEVER should have been removed from this account since it was a direct rollover via check from Voya Financial to Empower. The agent who handled with Empower has been contacted to advise the same.I am DEMANDING this resolved ASAP and a check for the penalty value sent IMMEDIATELY via overnight air to the provided destination account held by Empower Financial Services. And then, I want an apology and assurance from Voya that the incompetent employee who was behind this is no longer s******* up someone else's transactions - that is, if he hasn't been fired yet.I am obviously LIVID and trusted Voya to handle the SIMPLE TASK of rolling the funds from one 401k to another yet they managed to s**** this up and decimate any faith that could be had in their organization.
Business Response
Date: 02/27/2025
**** made attempts to contact the customer. The customer has been non-responsive but has called the contact center and been provided a response. At this time **** is closing this matter.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.
Customer Answer
Date: 03/20/2025
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:

Voya has not made any effort whatsoever to reach out to me. I have voicemail just like everybody else on the planet so to say that they attempted to reach out to me, but didnt leave a voicemail speaks volumes about their efficacy and their level of customer service.
I dont appreciate the lies, and I think that this is worthy of sending a complaint to the SEC as well.Its called accountability.
I am confident that someone over there are screwed up the disbursement. There should have been zero penalties whatsoever and if I dont get a proper response, I will file a complaint with the SEC.

In order for the BBB to appropriately process your response, you MUST answer the question above.

Sincerely,

********* * ****

Business Response
Date: 04/09/2025
The customer was provided a response on 04/09/2025.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.
Initial Complaint
Date:02/21/2025
Type:Billing Issues
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.
Voya incorrectly entered data into my account; entering my date of birth as the start date of my employment. Their inattention to detail and unreliability has delayed my request since 2/7/28 to close my account and caused me personal harm.They said they would call. They didnt. When I called, the answer was basically dont call us, well call you.I resigned my job 1/28. A one month delay to talk about the clerical error that they made before even beginning the withdrawal process is unacceptable. Its also hard to tell on the Voya website how to close an account or how to request a hardship.Additionally, I believe that one or more agents have deliberately dropped me from the queue, one apparently pretending that she could not hear me after I mispronounced her name. I explained from 2/7 beginning that that I have just had major cancer surgery and am in danger of losing my housing, and that I would appreciate attention to my request to close my account, or at least perform or a hardship withdrawal because of their error, yet the answer is the same. Silence and inaction. The delay has caused me some harm; my rent is late and Ill have to cancel business travel with my new job for an important media event with new clients.
Business Response
Date: 02/26/2025
The customer was provided a response on 2/25/25.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.
Initial Complaint
Date:02/20/2025
Type:Service or Repair Issues
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.
My employer uses this company for our 401k unfortunately. This has been abysmal to say the least. Being given incorrect info that greatly affected me to unengaged and unprofessional customer service ****************** appear to be ran like a sweat shop. 9 times out of 10 I get some foreigner that barely speaks/comprehends English. My initial issue is that my account states I am privy to 2 loans and several agents agreed. The website which is another hot mess, only allowed one. Called Voya and they as always dont know anything and had to submit a research claim. Was advised to call back in 5 days which I did and each time, ***** knows what the heck is going on. You all are dealing with people money. The lackluster and lack of urgency to provide CORRECT info is appalling and downright unprofessional. Today I call AGAIN and get some woman that sounded lie she literally just woke up. Her kids screaming in the background just ghetto.. This is not the only time this has happened. If you are going to allow your ppl to WFH, they must be attentive and helpful! Of course after she fumbled through the call and had me on hold- call drops. how convenient and of course she made no attempt to call me back. I WANT AN ANSWER ON WHY THERE IS NOT A LOAN 2 OPTION.
Customer Answer
Date: 02/24/2025
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
Date:02/17/2025
Type:Service or Repair Issues
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.
On 2/5/2025, I submitted a request for a hardship withdrawal to save my home. It was denied, but I didnt receive a notification about the application being denied- I just happened to check the next day. I was told that I needed to update my address with my employer, which was completed the same day on 2/6/2025. I ended up leaving my previous employer on 2/11/2025. As of that day, with speaking to two representatives at that point, my address wasnt updated on Voyas website. I was told to fax my updated address information to Voya, for which a representative said shed enter a ticket which could take up to 20 days(to update an address is RIDICULOUS- also, there was never an option to update on Voyas website). Speaking to another **** whose behavior as a CSR was DEPLORABLE on 2/12, I had to advise her NUMEROUS TIMES that I updated my address with my now previous employer a week prior to that when she continues mentioning that I needed to update with them. After going in several circles, she said that Voya would update my address as soon as administratively possible- what does that even mean!? Voya can wait 6 months if they choose to!? I even asked to speak with a supervisor several times and her reply to me was weeeellll, what do you need to speak with a supervisor for?because IM AN UNWILLING PARTICIPANT at this point. I was told a supervisor would contact me within ***** hours. Theres been no supervisor contact. **** still has my money. AND, AS OF 2/17/2025, MY ADDRESS IS STILL THE SAME ON THEIR WEBSITE SO I COULDNT WITHDRAW IT AS IM REQUESTING.
Business Response
Date: 02/28/2025
The customer was provided a response on 2/25/24.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.
Initial Complaint
Date:02/14/2025
Type:Order Issues
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 have been contacting Voya since my Uncle died in October to see if there is a life insurance policy. I am the executor of the estate. Not only were they contacted by me about the death but also the funeral home contacted Voya. The funeral home was told there was a life insurance policy. I called numerous times only to get the runaround. I have sent Voya both the Death Certificate and the Short letter. I was told I would have an answer in 7-10 business days and that a letter would be sent out. Neither of which has happened. Every time I talk to someone I get the same response, it will be 7-10 business days. This has been since October. We are now 5 months into my Uncles death and me trying to find out if there is a policy. If there is a policy it has to go to the estate and I have to pay inheritance taxes on the policy if there is a payout. And I only have until July to pay the inheritance tax on the estate. Losing my Uncle was hard enough and having so many things to handle after someone dies is hard enough. But to get the runaround for 5 months now is very unprofessional and not the way a business should be run. If there is a policy it should have been paid out months ago. They sure didnt have a problem taking the money every month for the policy. But they sure do have a problem giving you answers and paying out the life insurance. Nobody should have to deal with this runaround nonsense after losing someone so close to them. Very unethical and customer service is extremely rude. I have done and sent in everything they asked me for. I did my part. Now I would like the same respect back. They need to do the job they are getting paid for and give me answers.
Business Response
Date: 02/28/2025
Voya made numerous attempts to contact the customer and voicemail's have been left for the customer. The customer has been non-responsive. At this time **** is closing this matter.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.
Initial Complaint
Date:02/12/2025
Type:Service or Repair Issues
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.
Took out 401 k loan in May of 2024. I left my job and went in default on loan. December I reached out to Voya and ask if I could pay the loan off before the end of 2024.Was told yes by several customer service ************ for the payoff amount. Got a payoff form emailed to me from Voya and was told to print out and fill out. Filled form. Got a cashiers check from bank which cost 40$. Went to fed ex and overnight the check so it would arrive in time before end of 2024. Which cost me another 40$ some dollars. The check arrived on time and was sent back to me bc I was told that the loan went in default and the money couldn't be applied. Had I had the right informationI wouldn't have spent 80$. I have communicated with Voya many times and being on phone for hours trying to get resolved after finally being told nothing can be done. I am looking to be compensated the 80$. I can provide proof.Thank you ******* *****
Business Response
Date: 04/10/2025
The customer was provided a response on 4/10/25.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.
Initial Complaint
Date:01/31/2025
Type:Customer Service Issues
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.
On 01/17/2025, I provided information for payment but the person reviewing it wasnt very thorough. The payment was delayed and now going on 3 weeks. They have the required information which itemizes day by day and they still do not understand. On 01/28/2025, a knowledgeable representative went line by line and neither of us could understand the the reviewer didnt see it. On 01/29/2925 called for an updated and the representative could convey the information in front of her. On 01/30/2025, I called for update again and Representative provided incorrect information because she did not review it. I asked for a supervisor and would not provide her name. She left me on hold over 15 minutes so I used by cellphone to call while holding for supervisor. I spoke to *** which provided incorrect also because they are driven for low AHT. Then placed on hold for 3-5 minutes to provide the second incorrect information. After pushing for her to review further, the correct information by I was flustered by then. As a customer and plan holder, the timeframe should be honored and provided correct information. It would save repeat calls.
Business Response
Date: 02/08/2025
The customer was provided a response on February 7, 2025. Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.
Initial Complaint
Date:01/31/2025
Type:Service or Repair Issues
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.
Diagnosed with skin cancer in March of 2023. Filed a Critical illness claim with Voya Financial January 2025. Submitted all requested documentation, including pathology results with cancer diagnosis. Claim then denied to due "time frame" to file.
Business Response
Date: 02/08/2025
The customer was provided a response on February 7, 2025. Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.
Customer Answer
Date: 02/11/2025
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:

I think Insurance Companies need to be "people" sometimes. Not everything in life is "black & white", not so "cut & dry".....sometimes there is an "exception to the rules". I only signed up for Voya b/c it was offered by my workplace, I will be canceling this insurance at open enrolment in October 2025, and won't recommend them to anyone. I was diagnosed with Cancer, Pathology Report verified this, I had it removed and luckily Cancer free since 2023. Filing a claim was the LAST THING on my mind, and it shouldn't be the reason the claim was denied. Someone needs to look into changing these rules, they only benefit the Insurance Companies. our Answer Here]

In order for the BBB to appropriately process your response, you MUST answer the question above.

Sincerely,

********* *****-******

Business Response
Date: 02/13/2025
The customer was provided a final response on February 7, 2025. Voya value's the customer and has received and is appreciative of the feedback. Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.
Initial Complaint
Date:01/30/2025
Type:Billing Issues
Status:
UnresolvedMore 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 am an employee in the state of ********. My retirement account recently transferred from ************* to ****. The contribution history is incorrect. I made $7,200 in contributions in Decemeber 2024. The contribution history shows $3,660. I asked VOYA about this. They said my missing December 2024 contribution posted on my account January 16, 2025, which is ironically the same date as my most recent contribution of $3,600. I asked if this contribution would count towards my 2025 limit or 2024 limit. I was told the 2025 limit. It shouldn't though because it was made in 2024. If the contribution showing on January 16, 2025 is actually the missing contribution from December 2024, then my actual contribution from January 16, 2025 is still not displayed on the account. Also, all of the contributions for 2024 are the wrong amounts on the wrong dates, and no contributions before 2024 (I have contributions going back to 2014) transferred over. VOYA stated they are unwilling to resolve the issue.
Customer Answer
Date: 02/24/2025
Better Business Bureau:

At this time, I have not been contacted by Voya Financial Inc. regarding complaint ID ********.

Sincerely,

***** **********
Business Response
Date: 03/04/2025
Voya made numerous attempts to contact the customer. The customer has been non-responsive. At this time **** is closing this matter.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.
Business Response
Date: 06/02/2025
The customer was provided a response on 3/27/25.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. It is recommended the customer address with their employer. Voya considers this resolved and is no longer responding to this inquiry. Thank you.
Customer Answer
Date: 06/23/2025
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:
The matter is not resolved. The contribution history has now disappeared altogether. There were formerly contributions listed with wrong amounts on wrong dates. Now all of those entries are gone. Did VOYA delete the contribution history? If so they did not communicate this to me.

In order for the BBB to appropriately process your response, you MUST answer the question above.

Sincerely,

***** **********
Initial Complaint
Date:01/30/2025
Type:Order Issues
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 received a distribution form for taxes on a loan that was on my 401k... my 401 k loan was send every month by my company when i contacted voya on 1/27/25 to ask what it was for i was told my loan is in default and that i still owed ***** my loan has been paid off since 6/24 as of the voya system there is no default and my office today paid the ***** i had ticket # *********** i would like my loan taken out of default status and what ever distribition was suposedly send i have never recieved nor do i want it i would like this all fixed asap
Business Response
Date: 01/30/2025
The customer was provided a response on 01/30/2025.
Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.
Customer Answer
Date: 02/03/2025
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: it was a terrible response and the "customer service person" who called was very confrontational and a jerk. it was not even close to good or professional

[Your Answer Here]

In order for the BBB to appropriately process your response, you MUST answer the question above.

Sincerely,

******* ****

Customer Answer
Date: 02/05/2025
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:
still waiting for a outcome as one has not been presented or offered

[Your Answer Here]

In order for the BBB to appropriately process your response, you MUST answer the question above.

Sincerely,

******* ****

Business Response
Date: 02/20/2025
The customer was provided a response on02/20/2025.
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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Voya Financial Inc. is NOT a BBB Accredited Business.