Two Aegon customers who receive a variable pension benefit, the so-called Aegon Distributing Investment Pension, have each filed a separate complaint. They believe that the return achieved on their investments in 2019 (€9000 and €23,000 respectively) is disproportionate to the increase in their payment a year later (in both cases no more than a few tens) and that they are also insufficiently informed.
coherence
The quote that the two customers received from Aegon before taking out the product does state which factors influence the amount of the pension benefit and what the influence of these factors is. However, the information lacks an explanation of how these factors together determine the level of the pension benefit.
There is a serious obligation to provide information, especially when it comes to complex products that people can take out themselves without taking advice from an expert. This means that the insurer must properly explain how a complex pension product works, according to Kifid.
Correct calculation
Now the two customers have not been able to get a full understanding of the product they were taking out. And with that, the insurer has fallen short, according to Kifid. However, the information provided by the insurer shows that the amount of the pension benefit for 2020 was correct in both cases. This means that in both complaint cases there is no question of a financial disadvantage, but there is a considerable setback due to the low actuarial interest rate that has plagued everyone when accruing pension. The insurer must accommodate both consumers if they wish to review their choice for the investment pension.