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Thousands of Aegon clients face backdated charges
Thousands of pension policyholders with Aegon UK face swingeing unexpected charges following a so-called routine review by the life office.
Referring to those affected, Mr Locke said they made up less than 1 per cent of the total customer base, representing 17,903 clients. He was, however, unable to say how the life and pensions provider missed this error in the system for six years.
He said: "We spotted this during a routine check of our system's procedure. I am unsure how we missed it for six years, but the mistake has now been rectified."