Nearly 18,000 Aegon customers face surprise charges

Thousands of pension policyholders with Aegon UK face unexpected charges following a so-called routine review by the life office found they had been undercharged in the past.

The additional charges, which could be up to 10% of accumulated pensions, followed checks on pensions with reduced or ceased premiums going back as far as six years.

The FSA has given the green light to this retrospective charging and has admitted there is no time limit on such back-dated charging.

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