Computer error overvalues 7,000 Aegon drawdown funds

The insurer will not be reclaiming any money from pensioners, but they now face the prospect of receiving significantly less income than they have become used to. Aegon first became aware of the computer error, which failed to properly record if savers took a 25% tax-free lump sum when they retired, back in 2001. Its staff had been manually altering individual fund values and alerting savers to the problem whenever they made a fund switch or had a policy review. However, it estimates around 7,000 customers are still unaware of the problem and have yet to have their fund value corre...