My experience with Aegon UK has been nothing short of appalling.
A scheduled pension drawdown due on 27 February 2026 simply did not arrive. When I checked my online portfolio, the funds had not even been disinvested, which strongly suggests that the payment process was never actioned in the first place.
To make matters worse, their own documentation contradicts itself regarding where the money is supposed to be paid. I was previously told the drawdown would go to my South African bank account, yet the online records now show a Revolut account instead. This basic administrative confusion over something as fundamental as the payment destination is deeply concerning.
This is not a discretionary payment. A drawdown is a pre authorised recurring instruction. Failing to execute it on the scheduled date shows a worrying level of administrative incompetence, particularly given previous delays and poor communication I have already experienced with this company.
Emails go unanswered, clarity is non existent, and the overall impression is of a pension provider that simply cannot manage the very funds it has been entrusted with.
When a company is responsible for people's retirement savings, this level of disorganisation is unacceptable.
I am now in the process of moving my pension away from Aegon, so they will soon have one less customer to ignore. I strongly suggest others consider doing the same.
A brief one line reply from Dyane stating that they are sorry and that the matter has been referred to the relevant department would merely highlight this company’s ongoing pattern of offering words instead of taking meaningful action.
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Aegon provide retirement, workplace savings and protection solutions to over two million UK customers. Find out more about the products that we offer.
