Nearly 900 customers stuck between Aegon and PensionBee

Longest transfer took seven months

Hannah Godfrey
clock • 1 min read

Some 864 customers are stuck transferring their pension from Aegon to PensionBee, according to a live 'transfer tracker' set up by PensionBee.

According to the tracker, assets under management caught up in the process total about £18m, and the average pot size is £21,000. PensionBee told Professional Adviser the longest ongoing transfer time to move a pension from Aegon to PensionBee is 211 days - or around seven months. The transfer in question had a value of just £206. So far, the longest transfer that has successfully completed is 176 days, or nearly six months. PensionBee's tracker will update each morning with new figures detailing the number of individuals caught up in the pension transfer process between the two fi...

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 warn market volatility will threaten retirement plans

Advisers warn market volatility will threaten retirement plans

More than half expect clients to postpone or change plans

Isabel Baxter
clock 26 March 2024 • 2 min read
Perfect timing: How to advise clients on the right time to retire

Perfect timing: How to advise clients on the right time to retire

Striking a balance between health, wealth and personality

Richard Hulbert
clock 05 February 2024 • 4 min read
Baillie Gifford: Enjoying later life without an income from work

Baillie Gifford: Enjoying later life without an income from work

The latest from PA’ Digital Working Lunch webinar series

Professional Adviser
clock 12 December 2023 • 2 min read