Statement regarding Aegon

Romi Savova

by , Chief Executive Officer

09 Feb 2018 /  

Feb 2018

Statement regarding Aegon

PensionBee statement

Romi Savova, CEO of PensionBee said:

“We place customers at the forefront of everything we do. We have read Aegon’s statement and are delighted that Aegon has finally chosen to listen to the voices of c.900 impacted consumers.

As per available public information on PensionBee, we can (and hereby) formally confirm that we capture clear authority from clients to carry out the transfer and that we have policies in place to provide appropriate warnings and information to customers to ensure they understand any features within their current policy which will not be replicated within the PensionBee pension.

We trust Aegon’s direct-to-customer business, Retiready, has the same policies in place.

We are in the process of uploading transfers to the electronic system and look forward to confirming completion of these transfers shortly.”

In a message to Adrian Grace, Mark Wood, Chairman of PensionBee, stated:

“Adrian - you have stated publicly this morning that your concerns about PensionBee caused you to decide to change your procedures when a policyholder requests a transfer to PensionBee. These changes have resulted in extraordinary delays to your policyholders’ wishes being fulfilled, but you have not specified what these concerns are. In your public utterances today you have somewhat changed the conditions you require to be fulfilled as a prerequisite to resuming prompt electronic transfers in response to policyholders’ requests. You will see from our web site these conditions are no more than is our practice whenever accepting a transfer - we therefore look forward to an immediate resumption of electronic transfers.”

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