Aegon pensions

[SweetPeaPods]

Anyone know anything about Aegon pensions?
I have a Aegon retirement choices (ARC) plan through my previous employer with less than £1k in that I’m considering transferring to an Aegon group personal pension plan with my current employer. Any reason why I shouldn’t? I’m struggling to get information on the differences and as the ARC plan no longer has any money going in I feels they should be consolidated so I only receive one lot of paperwork?

ARC is Aegon's investment platform so if you had ISAs you were looking to move you might want to hang on to it. It's got low charges which are capped at £250k invested. The pension has flexi-access drawdown which the GPP may or may not have, but that may or may not be important depending on your age and intentions. Without knowing a bit more about you and the GPP it's hard to comment relevantly.

Thanks. What’s GPP? I’m early 30s.
No ISA’s to transfer sadly.

GPP is group personal pension. Pension rules will inevitably change again before you reach 55 so flexi-access not so relevant to you at this stage. Consolidation may well make good sense then as only one plan to keep track of and it's such a small amount. I doubt there would be any exit penalty but just double check that before you move anything.

I had a few Aegon as my last employer kept chopping and changing. I moved them all into a pension with another provider a couple years ago with lower charges. I had to make a complaint against Aegon which was found in my favour as they were pretty obstructive with a couple of the pensions I moved. The complaint procedure was efficient and Guy I spoke to said he di£not know how I kept my cool as he would have been raging if he’d been mucked about like I had.