Aegon Personal Pension Plan (PO-2774)

Subject

Mr Heppell has complained that Aegon have not managed or administered his Plan correctly or provided him with correct valuations of his investments and subsequently transferred an incorrect amount from the Plan.

The Deputy Pensions Ombudsman’s determination and short reasons

The complaint should not be upheld against Aegon as although there were errors in the transfer value paid, Aegon have recognised this and offered compensation. Aegon have a legitimate right to seek the return of the overpaid amount included in the transfer value paid.