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Business Profile

Investment Management

Voya Financial Inc.

Headquarters

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Investment Management.

Complaints

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

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Voya Financial Inc. has 9 locations, listed below.

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    Customer Complaints Summary

    • 300 total complaints in the last 3 years.
    • 131 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.

    Sort by

    Complaint status

    Complaint type

    • Initial Complaint

      Date:03/31/2025

      Type:Sales and Advertising Issues
      Status:
      Answered
      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 had switched to this company to handle our retirement. I kept getting internal email to setup my acct with Voya. I had done so, some how my 401k got switched to **** *** selecting 71% to be taken of my pay check. ?? 1st of all Who in the world will do this while working? Didn't even know my employer offered this type of plan.. Unfortunately I was not able to see the change due I was in the middle of moving offices, our computers were taken. I had noticed on my very low paycheck. I had notified my HR thinking it was through them. They told me it was through voya. They told me it was too late They took out the 71% both check. I contacted Voya right away, I had spoken to a *** 2 Fridays ago, I kept on getting a promise someone was going to call me back.....the ***s did tell me a ticket was put in... I had called today and explained to the *** no one had me back and this must be a computer glitch explained as never knew my employer offered a **** *** neither select the 71% ded, she had told me this a new plan they offer.. this made me think some this was defaulted or the computer selected this for me... The *** told me that a manager was going to call me back. She had commented that there's nothing for them to do once it's, it's done. I had told her that how is it that it's my money and I'm forced have the **** ***?!!! I don't want this plan, I want my 2 paycheck refunded, I need money to live, bills have to be paid... Mind you the *** told me a manager was call me back , she kept on putting me on hold. I was persistent with her I had asked when? This had been since 2 Fridays ago someone was suppose to call me back. I had told her how voya be managing our retirement if they can't commit to calling back their clients back. She had just apologize, I told the apology was good enough. To tell me theres nothing they can to do is when my money and the *** is Hired to manage our money is garbage, they can give me money back..

      Business Response

      Date: 04/07/2025

      The customer was provided a response on 04/04/2025.
      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:03/30/2025

      Type:Product Issues
      Status:
      Answered
      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.
      Returned from vacation to find my 401k plan was restricted from any further changes without any warnings. Voya said the notice was sent but never received. Think about it! If warning was received, no sane person would create second infraction. I did call customer service and they cannot do anything!

      Business Response

      Date: 04/02/2025

      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.

      Customer Answer

      Date: 04/07/2025

      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:

      Please take a look at image. The mail is date APR 3, 2025.

      The letter from the package was dated Feb 20, 2025.

      On Feb 26, 2025, I received for indefinite suspension.

      Business does not now how to run business.

      For important correspondence, should be sent with signature required to avoid he said she said.

      Mail can be lost or stolen.

      It seems that Voya does not understated or know proper communication.

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


      Sincerely,

      ***** *****




       

      Business Response

      Date: 04/10/2025

      **** previously provided a response on 04/02/2025 and continues to attempt to reach the customer with no response back.
      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:03/27/2025

      Type:Product Issues
      Status:
      Answered
      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 will NEVER recommend this company or use them. I was automatically enrolled in the 401k retirement contribution even though I did not authorize this or receive any mail corresponding to this change. I only found out after my paycheck was shorter than before, and this is when I immediately called the VOYA financials number. The representative then walked me through that I couldn't remove myself but that I could change the contribution to 0% which was completed. The representative then notified me that I would be refunded the amount within 5-7 business days, which is not a problem I waited patiently I even waited an additional week for my refund, and to no avail. I called in A MONTH since they had removed the funds and low and behold the representative didn't input a document that was required to issue the refund check. Once she explained this to me I was then notified I would not be receiving the full amount that was taken from my check due to the change in the market. This is not my responsibility to confirm if a form was/wasn't submitted in its entirety yet getting penalized for someone's mistake. I requested to speak with a manager and then I was able to speak with ****** who provided me with his direct line, he reassured me he would look into it and call me back. I gave him time and called for a follow-up today, when I went to call for an update the phone rang and then went busy I also confirmed with ****** the number twice. I called the regular number where I spoke with ******** which was not helpful whatsoever with the situation even when I told him the number was dial tone and that it must have not been a real number he shrugged it off. ******** couldn't even transfer me to his extension which they did previously. This has been a HORRIBLE ordeal with Voya and I am not the only one, my sister is dealing with a nightmare switching over her funds from **** to her employment 401K and they have given nothing but problems. AVOID THIS COMPANY FOR INVEST *****

      Business Response

      Date: 04/01/2025

      The customer was provided a response on 04/01/2025.
      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:03/17/2025

      Type:Service or Repair Issues
      Status:
      Answered
      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 recently changed our 401k plans to ****. I requested a hardship withdrawal on 3/3 which was approved and a check was issued to be delivered via ***. Of course *** has lost the package and on 3/7 I called Voya so they could issue a stop check and reissue a new check. The first rep provided a 2-3 business day timeframe for the stop check and then another 3-5 business day timeframe for the new check to be received. It is now 3/17 and there has been no progress on my account. Every rep *** spoken with gives me different I formation regarding the timeframe. They also charged me $50 for the expedited fee and then told me since it was already issued expedited once that the second check didnt qualify and would be send regular 7-10 business days. It wasnt until I spoke with a supervisor that they approved for it to be expedited again. They still have NO timeframe for me and all they can do is check status. This company prides themselves on customer service but dont actually do anything to help their customers. None of their **** are on the same page about anything and dont offer any help whatsoever, I had to practically beg for a supervisor before I ever spoke to one. This is the WORST 401k company *** ever dealt with

      Business Response

      Date: 03/26/2025

      The customer was provided a response on 3/26/25.
      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:03/17/2025

      Type:Service or Repair Issues
      Status:
      Resolved
      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 an accident claim ************** and recieved a denial letter.first off they put in the wrong dates and diagnosis.they put in catonia(which I never had or have)and the wrong date of 4/10/24.......the date should have been 2/19/25 and the diagnosis is upper right quadrant abdominal pain.i have this insurance through work that has over thousands of employees and will wait to hear back from voya before I contact my company.

      Customer Answer

      Date: 03/19/2025

      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:03/11/2025

      Type:Product Issues
      Status:
      Answered
      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.
      **** issued me a check from my retirement account on January 21st and the amount of $16,000. ***** went to the federal government for federal tax. I never received the check on January 31st I sent them an affidavit that was notarized telling them to stop the check. After several calls before the end of the month I got nowhere and on February 18th they told me the check was cashed and that's when I called on March 1st. The cash the check was casting the amount of $16,000 to someone I don't know that's on the back of the check. They failed to take the initiative to stop the check prior to it being cashed. Now they are making me jump through all kinds of hoops to get my money back when this was their fault.

      Business Response

      Date: 03/24/2025

      The customer was provided a response on 3/18/25.
      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: 03/24/2025

      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:

      [Your Answer Here]

       Still no resolution

       

       

       

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


      Sincerely,

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




       

      Business Response

      Date: 03/27/2025

      The customer was provided a response on next steps for resolution and timeframes.
      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:03/11/2025

      Type:Service or Repair Issues
      Status:
      Answered
      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 waiting on my termination (retired) settlement from 401k. We were due on March 3 2025. Everyday when we call we get different people and different answers. The check was sent by regular mail (should have been wired). They have exceeded the mailing time. Now they want us to wait another 10 days then start the whole process again. They dont even use tracking information

      Business Response

      Date: 03/13/2025

      The customer was provided a response on 3/12/25 and 3/13/25.
      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:03/10/2025

      Type:Customer Service Issues
      Status:
      Answered
      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 refuses to help with a hardship withdrawal. You cannot submit a form without submitting documents in the form. Yet Voya denied my hardship withdrawal, stating no documents were submitted when I applied. It is impossible to apply without submitting documents, so for them to say i have none in the system makes 0 sense.

      Business Response

      Date: 03/14/2025

      The customer was provided a response on 3/14/25.
      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:03/10/2025

      Type:Sales and Advertising Issues
      Status:
      Resolved
      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.
      Per the plan of my 401K I have the ability to take two loans. I had two loans opened and on 2/14/2025 I paid off the lower loan. I was informed that there was a 15 day waiting period after paying one loan to conduct anymore activity. March 1, I called Voya and was informed that it isn't 15 days, but 15 business days, and to call back on March 7. On March 7, I called due to not being able to conduct a loan. I was then informed it was 15 business days from the day that the payment reached ****. Each time there's a different criteria, and the verbiage in the plan states "15 days", not "15 business days", nor "15 business days upon payment". No one seems to know the date as the last date given was perhaps March 13 or March 14. It's unacceptable to handle 401K funds so recklessly and without due care and regard for financial hardships.

      Customer Answer

      Date: 03/11/2025

      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:03/03/2025

      Type:Service or Repair Issues
      Status:
      Answered
      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 had an amount put into my retirement account around $40,000 with VOYA that I want to get $10k out. They keep making me put in paperwork that are unreasonable.

      Business Response

      Date: 03/05/2025

      The customer was provided a response on 03/04/2025.
      Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.

    Voya Financial Inc. is NOT a BBB Accredited Business.

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