Aegon fires back at PensionBee over transfer time criticism

'Potential issues' identified through due diligence

Hannah Godfrey
clock • 2 min read

Aegon has hit back at PensionBee claims that is it slower than its competitors on pension transfer times, saying it completes the "vast majority" electronically within 10 to 12 days.

The pension provider said ensuring the "security and safety" of its customers is its primary concern, and the electronic transfer service was initially available to PensionBee but was withdrawn due to potential issues identified through its due diligence process. "Aegon completes the vast majority of pension transfers electronically within an average of 10 to 12 days to the satisfaction of many thousands of our customers," it said.  "The electronic transfer process was initially available to PensionBee, but was withdrawn because of potential issues identified by our due diligence proc...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Advisers concerned about regulatory scrutiny in decumulation phase

Advisers concerned about regulatory scrutiny in decumulation phase

Retirement planning ‘dominates’ client advice requests

Isabel Baxter
clock 27 November 2024 • 3 min read
Advisers call for new products to tackle retirement planning challenges

Advisers call for new products to tackle retirement planning challenges

Retirement products ‘don’t meet modern needs’

Isabel Baxter
clock 25 November 2024 • 3 min read
How advisers can play a role in boosting wellbeing in retirement

How advisers can play a role in boosting wellbeing in retirement

A happy retirement is the 'north star'

Cecilia Furner
clock 08 November 2024 • 3 min read