Aegon - Transfer & Modernising Pension

nocash

Received a letter today from Aegon saying that they are transferring my Personal Pension to a SIPP in 14 days time unless I instruct them not to. (This doesn't seem to be much time to think about it and get advice?).

The main difference to my inexperienced eye are the charges in that they keep 0.25% of the current fund and any future payments in as a separate fund for the service charges and this money does not attract investment/reduction growth and the flexibility is not as great.

In principle, is this a good thing for me or are they trying to tidy up their books with small accounts, the value of the scheme is £10,500, and being a bit bullish about it?

bigadaj

You'd expect a sipp to have more investment options but potentially higher charges.

You can of cours transfer to another provider should you so wish.