Aegon Part VII Transfer

Welcome to the Part VII Transfer section of our website.

In April 2016, Rothesay Life Plc acquired part of Aegon’s annuity portfolio.

Further to the sale (which was approved by the Prudential Regulation Authority, one of the statutory regulators of financial services in the UK) both Rothesay Life and Aegon agreed to begin the process of transferring this part of the Aegon annuity business to Rothesay Life. Transferring Aegon policyholders have been written to by Aegon, explaining the transfer process and in the meantime, Aegon will continue to make payments to transferring policyholders until this process is complete.

The transfer will be achieved through a Scheme of Transfer which will be submitted to the High Court for its approval under Part VII of the Financial Services and Markets Act 2000.

Update 23 June 2017: The Guernsey Courts have granted approval for the transfer of annuities from Aegon to Rothesay Life Plc to commence. 

Update 19 June 2017: The Jersey Courts have granted approval for the transfer of annuities from Aegon to Rothesay Life Plc to commence.

Update 15 June 2017: The UK Courts have granted approval for the transfer of annuities from Aegon to Rothesay Life Plc to commence.

Update 5 June 2017: The UK Court Hearing will be taking place on 12 June 2017 in London at the Rolls Building, Fetter Lane, London EC4A 1NL.  Please find below copies of the Supplemental Reports by the Independent Expert, Scottish Equitable Chief Actuary and Scottish Equitable With-Profits Actuary, Rothesay Life Plc Chief Actuary and the Final Updated Scheme Document.

How does this affect Rothesay Life Policyholders?

If you have a Rothesay Life policy, you do not have to take any action. The acquisition will not change the way that your Rothesay Life policy and pension is operated. The same dedicated Pensions team continues to look after the administration and payment of your pension. 

A letter has been issued to explain that none of the terms and conditions of policies are affected by the proposed transfer, and that no action is required by policyholders, although we would encourage you to read the materials provided in the Document library below.

Document Library

15 June 2017 Supplemental Document

15 June 2017 Court Order sanctioning the Scheme                                                                
Court Order sanctioning the Scheme

6 June 2017 Supplemental Document

6 June 2017 Supplemental Rothesay Life Plc Chief Actuary’s Report                
Supplemental Rothesay Life Plc Chief Actuary’s Report

5 June 2017 Supplemental Documents

5 June 2017
Supplemental Report by the Independent Expert
Supplementary Report by the Independent Expert
5 June 2017 Supplemental Scottish Equitable Chief Actuary’s Report
Supplemental Scottish Equitable Chief Actuary’s Report
5 June 2017 Supplemental Scottish Equitable With Profit Actuary’s Report
Supplemental Scottish Equitable With Profit Actuary’s Report
5 June 2017 Final Updated Scheme Document (with revisions) Final Updated Scheme Document (with revisions)

Previous Documents

UK Documents

27 February 2017 Scheme Document on the proposed Scheme to transfer certain Annuity Policies from Scottish Equitable to Rothesay Life plc
Scheme Transfer Document
27 February 2017
Summary Statement of the proposed Scheme to transfer certain Annuity Policies from Scottish Equitable to Rothesay Life Plc 

This Summary applies equally to Jersey and Guernsey Policyholders
Scheme Transfer Summary
27 February 2017
Independent Expert's Report on the proposed Scheme to transfer certain Annuity Policies
Independent Expert Report
27 February 2017
Summary of the Independent Expert's Report on the proposed Scheme to transfer certain Annuity Policies

This Summary applies equally to Jersey and Guernsey Policyholders
Independent Expert Summary
27 February 2017
Rothesay Life Plc Policyholder Letter
RL Policyholder Letter
27 February 2017
Rothesay Life Chief Actuary’s Report on the proposed Scheme to transfer certain Annuity Policies
RL Chief Actuary Report
27 February 2017
Scottish Equitable Chief Actuary's Report on the proposed Scheme to transfer certain Annuity Policies
SE Chief Actuary Report
27 February 2017
Scottish Equitable With Profits Actuary’s Report on the proposed Scheme to transfer certain Annuity Policies
SE WP Actuary Report

Jersey Documents

27 February 2017
Jersey Representation and Jersey Scheme Document on the proposed Scheme to transfer certain Annuity Policies

Please note that the UK Summary Statement and Summary of the Independent Expert Report above apply equally to Jersey Policyholders
Jersey Representation

Guernsey Documents

27 February 2017
Guernsey Scheme Document on the proposed Scheme to transfer certain Annuity Policies

Please note that the UK Summary Statement and Summary of the Independent Expert Report above apply equally to Guernsey Policyholders
 
Guernsey Document

Most computers will open PDF documents automatically, but you may need to download Adobe Reader.

If you are Rothesay Life Policyholder and have any further queries regarding the transfer please click the link below for further contact details.

Contact Us

If you are a Zurich Policyholder, and you have any queries regarding the Aegon Part VII Transfer, please email partviienquiries@rothesaylife.com 

If you are a Zurich Policyholder and you wish to know more about the Zurich Part VII transfer please click on the link below

Find out more

If you are an Aegon Policyholder with a query relating to the Aegon Part VII transfer, please contact Aegon on the following number: 03456 015 299 (UK Freephone) or +44 (0) 131 666 8681 from overseas

Alternatively you can email Aegon at annuitytransfer@aegon.co.uk, or visit their website using the link below

Aegon Website
Court Order sanctioning the Scheme
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