Aegon paid £56 – I expected £45,000

Being unhappy with Aegon my wife and I decided to transfer our funds elsewhere. We signed the documents to transfer our general investment accounts (GIAs) and our Isa funds more than two and a half months ago.

Three weeks ago I received a letter from Aegon with details of the sales of both my funds. After a wait the cash for the Isa arrived but I received only £56 for the GIA when I was expecting more than £45,000.

My wife received the correct sum for her GIA but her Isa has yet to be sold. I am told this is being done.

I have been seeking progress with my missing cash. Last Wednesday a gentleman found that a department in India had closed the transaction after paying the £56 in error. He told me he was issuing fresh instructions to pay me.

I am 83 and waiting months with nearly £100,000 in limbo across our accounts is distressing. DG, WALES

The last batch of your funds was finally transferred with the figures completed just before I received your letter.

There remained some loose ends, though, and six weeks after I first spoke to Aegon about those it said, “We apologise for the delays that Mr and Mrs G have experienced. The situation is now resolved and we have taken steps to ensure that Mr and Mrs G were not financially disadvantaged as a result of the delays.

“We have also sent Mr and Mrs G £250 by way of apology for the distress caused.”

You report that £1,119 has been deposited in your Isa with another provider with no precise explanation. but you are happy with the outcome of your issue.

LETTER OF THE WEEK