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Written on: by CarolynBradley362 (1 review written)
This was a Company Pension scheme run by the above company in the 1990s which had a significant change of policy in December 2002 under Head of Individual Pensions when the paid-up charge was removed from any future regular contributions into the plan. There is evidence that this change was not implemented in some policies ( Scottish Equitable suffer continually from " software malfunctions" which have to be manually corrected ). As charges are never openly disclosed and are deducted some 2… Read Full Review
Written on: by JonDodsworth (1 review written)
Four weeks ago I wrote to Aegon informing them that I had stopped receiving annuity payments into my account - No reply!! Two weeks ago I went online to inform them; they said they would pass it the appropriate department - again no reply!! I am now left working through there complaints procedure, which they claim to respond within 10-days - what a way to service your customers!! … Read Full Review
The company failed to provide information about my pension value to support my mortgage application, despite follow up and reminders over almost 8 month period. Finally they informed me that their system was unable to generate this information (whilst other Pension providers can at touch of a button.) Finally lodged complaint - another wait and to be told delay in replying to my simple letter was because the manager was out of office. Is AEGON are a market stall with one man decision making… Read Full Review
and so arrogant. Pension plan matured - agreed for a lump sum and monthly pension to be paid into nominated bank account. Letter received 31st July stating money had been paid into my account - checked - no money. Rang Aegon and told it has been processed - will take 3 days (BACS!!) 3 days later still no money - rang again - will take 3-5 days (BACS!!) 5 days later rang again and told the money hadn't been transferred after all!! Apparently too late to do transfer this day (cut of at 12.30… Read Full Review
If you have a pension with AEGON then make sure your will makes special mention of how you wish your AEGON pension money to be paid out! I am executor to a will which instructs me to collect all monies in and distribute it as required to pay debts etc, the remainder going to a minor.
AEGON want to pay the minors guardian the money directly with no checks or balances to ensure that the money ends up in his bank account and not on the family holiday! The complaints procedure is drawn out and… Read Full Review
I invested a section 32 buyout pension with Scottish Equitable in year 2000.
On maturity at pensionable age, the return to me was 24% of the original stake, if that was'nt bad enough due to the investment climate over the 10 year period, the company failed to notify me of the value of the investment, until it was too late to recover the situation.
I repeatedly called and emailed them all of which was ignored for months and then reluctantly a statement was produced with the caveat that they were… Read Full Review
Believe me if you have any thought for your family or your money avoid Scottish Equitable at all costs. In the space of a few months my endowment was decimated and this company was as helpful as a snake over a mouse. You have been warned. PS I give this company a no star rating… Read Full Review
My current experience of Scottish Equitable is deplorable.
I have just questioned a deduction of 15% of the units held in my paid-up With Profits Pension Scheme in ONE year,and been told that this is because of a recent change in their charges relating to my Policy. This is on top of a reduction of over 80% in terminal Bonus.Whilst accepting Terminal Bonuses can fluctuate, I cannot accept that an Annual charge of over 15% is right or fair.They will not explain the changes in their charging… Read Full Review
Written on: by stecha (1 review written)
I am now retired and still struggling to get my money out of Aegon Scottish Equitable. I have filed complaints with all relevant agencies, but most either didn't want to know or said my complaint was "outside their scope". The Pensions Ombudsman currently has my complaint but seems reluctant to support me in any way. Ten year annualised returns have been only 2.2% and most of this was gained in 1998. Since then, my "investment" has been falling in value despite the fact that Aegon fact sheets… Read Full Review
Written on: by templd (55 reviews written)
I strongly advise anyone looking to invest in a company to look elsewhere from Scottish Equitable Pension. Not only have they failed to make money on my investment but they are also charging 8 per cent to have it transfered elsewhere! Daylight robbery and adding insult to injury.
I'd recommend checking out the Motley Fool site, companies like Gartmore and M&G or also the Which? online site. They are extremely helpful and would have warned me about these lot.
I'm now looking at investing in a… Read Full Review
Written on: by Impoverished (1 review written)
The current annual bonus rate on the High Equity WP fund is .25%. Therefore it will take getting on for 20 years just to cover the bid offer spread on contributions paid in! Scarcely attractive!… Read Full Review
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