Businesses cautioned following Aegon closure
Financial and corporate adviser AWD Chase de Vere has warned businesses in Birmingham that they may need to take action following the announcement that Aegon Benefit Solutions is to close from 1 October 2011.
The Edinburgh-based pension and investments company announced that it would be closing as part of a restructure of Aegon’s UK businesses.
The benefit solutions division of the business is used by employers of small and medium companies to provide employee benefits to staff.
Sean McSweeney, principal corporate consultant, AWD Chase de Vere, said: “It is disappointing that Aegon has taken the decision to close its benefits solution business as this will impact on a significant number of small and medium sized companies and on their staff who really value this service.
“Employers that use Aegon Benefits Solutions should look to arrange a move to an alternative provider. However, there are limited options and if they get it wrong they will end up spending far too much money or providing an inferior service for their employees. We therefore recommend that affected employers take specialist corporate advice.”
