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its customers is its primary concern, and the electronic transfer service was initially available to PensionBee but was withdrawn due to potential issues identified through its due diligence process.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  "The electronic transfer process was initially available to PensionBee, but was withdrawn because of potential issues identified by our due diligence proc...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

Why we plan holidays, not retirements: Changing the client conversation

Why we plan holidays, not retirements: Changing the client conversation

'This is scary for us as an industry but even more scary for us as a nation'

Verona Kenny
clock 04 June 2025 • 4 min read
Inflation drives 'modest' rises in PLSA's Retirement Living Standards

Inflation drives 'modest' rises in PLSA's Retirement Living Standards

Majority of pre-retirees expect to live with someone else in retirement

Martin Richmond
clock 03 June 2025 • 8 min read
PA360: The 'human' element of retirement planning becoming ever more important

PA360: The 'human' element of retirement planning becoming ever more important

Retirement panel on client-centric approaches

Isabel Baxter
clock 02 May 2025 • 3 min read