Aegon Pension Plans
Banger696
Posts: 66 Forumite
Just received my login details for Aegon.co.uk and looking at the plan list there are 3 plans. I have only worked for 1 firm from 1988 to 1998 and then became ill.
The three plans have the company name ltd, group then TPS section 32 on the last plan when looking at the details it says it is live. Other 2 plans appear closed.
Do the plans supercede each other eg. is the last plan a transfer from the first two as they all have the same retirement date?
Sorry for being a numpty.
The three plans have the company name ltd, group then TPS section 32 on the last plan when looking at the details it says it is live. Other 2 plans appear closed.
Do the plans supercede each other eg. is the last plan a transfer from the first two as they all have the same retirement date?
Sorry for being a numpty.
0
Comments
-
Do the plans supercede each other eg. is the last plan a transfer from the first two as they all have the same retirement date?
Impossible for us to answer as we do not have access to the transaction history.
A Section 32 buy out bond is most commonly used when transferring out of an occupational pension. You do not pay into it like a personal pension.0 -
https://www.aegon.co.uk/support/faq/Understanding-our-products/retirement-products/workplace-pensions/what-is-Trustee-proposed-Section-32-Buyout-plan-TPS32.html
Give Aegon a ring and check on your situation.0 -
I've emailed Aegon, they might ring as I left phone number too. Thanks for the help, hope I get some clarity.0
-
oops, the link is a 404 not found. Would really appreciate if you could post again as very interested. Thanks.0
-
oops, the link is a 404 not found. Would really appreciate if you could post again as very interested. Thanks.
https://www.aegon.co.uk/support/faq/Understanding-our-products/retirement-products/workplace-pensions/what-is-Trustee-proposed-Section-32-Buyout-plan-TPS32.html
It's not very exciting - it just says
Our Trustee-proposed Section 32 Buyout plan is for schemes that are winding up, offering an alternative to occupational pension schemes and reducing the administrative responsibilities for trustees.
In your circumstances I thought this might be of more interest
https://www.aegon.co.uk/content/dam/ukpaw/documents/aegon-buyout-plan-with-protected-tax-free-cash-drawdown-pension-option.pdf
What struck me was that it is clearly intended for the use of the customer rather than a financial adviser - it does not appear to ask for any evidence that an adviser has been consulted either?0 -
Hi there i have just received my year statement from Aegon and on checking this i found that it had lost money so checked this further to find that its not been managed since october 2017 this is when the IFA changed from one company to another at the request of the company i work for, now the issue is the previous company managed our pensions from 2013 when it started but when they changed to a different company in 2017 the new company didnt manage it unless you paid them to do so and we as employees where not told about this infact we wasnt told about the change in company at all.
so now a few years on we find that because nobody as managed it we have lost money is this right that my company can do this i would of thought they should of made us aware of the change?0 -
Hi there i have just received my year statement from Aegon and on checking this i found that it had lost money
2019 was a very good growth year. No asset class lost money except property. So, what are you invested in?so checked this further to find that its not been managed since october 2017 this is when the IFA changed from one company to another at the request of the company i work for, now the issue is the previous company managed our pensions from 2013 when it started but when they changed to a different company in 2017 the new company didnt manage it unless you paid them to do so and we as employees where not told about this infact we wasnt told about the change in company at all.
It was a regulatory change in 2013 and several changes thereafter (which changed how advisers were paid and who paid them).
However, this would have any impact on the investments you already held. They would continue to be subject to investment returns. There just wouldnt be someone reviewing them and making changes if they felt it was appropriate. So, that would not explain how you have made a loss.so now a few years on we find that because nobody as managed it we have lost money is this right that my company can do this i would of thought they should of made us aware of the change?
They almost certainly did tell you. However, this is not linked to your actual concern which is that you made a loss in a positive year. So, let us know what you are invested in.0 -
ok so these are my fund names
International
SE Man Bal Managed
Baillie G Bal Man
Univ Lifestyle
AGN BR 75 / 25 EQBD IN
hope this makes sense i am not too good when trying to understand Pensions0 -
As far as I can see, all these funds have seen an increase over the year so I am not sure why you thought that you lose money on it.0
-
joinery2002 wrote: »ok so these are my fund names
International
SE Man Bal Managed
Baillie G Bal Man
Univ Lifestyle
AGN BR 75 / 25 EQBD IN
hope this makes sense i am not too good when trying to understand Pensions
All those funds are up over the year. And none of those funds requires any advice company to do anything in respect of returns.
So, why are you seeing a loss? Have you perhaps got the 2018 figure and the 2019 figure around the wrong way?
Or are you looking a the projections (especially the low projection that uses a loss example - a purely artificial example of what may happen, not what will happen)?0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards