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AEGON Self Invested Personal Pension Scheme (CAS-35871-M0Y2)

Complainant: Ms Y
Complaint Topic: Transfers: general
Ref: CAS-35871-M0Y2
Outcome: Not upheld
Appeal outcome: None
Respondent: AEGON
Type: Pension complaint or dispute
Date:
Appeal: No

Ombudsman’s Determination

Outcome

I do not uphold Ms Y’s complaint and no further action is required by AEGON.

Complaint summary

Ms Y’s complaint is about a withdrawal she made from the SIPP after having transferred in funds from an Aviva personal pension plan. Ms Y says she understood the withdrawal would be tax-free but AEGON deducted tax before paying the withdrawn funds to her.

As a result of the withdrawal, Ms Y’s future contributions have been limited by the Money Purchase Annual Allowance (MPAA).

Ms Y has also complained about the length of time it took AEGON to complete the transfer and pay the withdrawn funds to her.

View determination

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