Aegon Section 32 buy-out plan (CAS-30344-V3B5)

Complainant: Mr G

Complaint Topic: Interpretation of scheme rules/policy terms

Ref: CAS-30344-V3B5

Outcome: Not upheld

Appeal outcome: None

Respondent: Aegon (Scottish Equitable plc) (Aegon)

Type: Pension complaint or dispute

Date: 17 September 2020

Appeal: No

I do not uphold Mr G’s complaint and no further action is required by Aegon.

Mr G has complained that:-

· He did not choose to transfer his pension benefits into the Plan.

· He cannot now transfer the Plan to another pension arrangement.

· He cannot take pension benefits at age 55.

· He was misled by Aegon when he was advised to get advice from an independent financial adviser (IFA).

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