AEGON Retirement Control Plan No: 5240993 (PO-2613)

Subject

Mr Rourke complains that delays on the part of AEGON in effecting a partial disinvestment of the Plan’s assets in order to secure an enhanced medical annuity of £7,200 pa with Just Retirement resulted in the annuity purchase price increasing from £99,865 to £101,390.

He also says that he has suffered distress and inconvenience dealing with this matter for which he would like to be suitably compensated.

The Pensions Ombudsman’s determination and short reasons

The complaint should be upheld against AEGON because there were needless delays which resulted in Mr Rourke’s annuity purchase increasing by £1,525 for which AEGON should be held liable.