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Aegon to wind up private pension business

Aegon Pension Fund on Monday said a decision was likely to be taken on winding up its private pension fund business.

Aegon attributed the winding up of the business to changes to the regulatory environment which made its secure and foreseeable operation impossible.

It said members of the fund have until March 31 to return to the state pension pillar, or they may join another pension fund.

Almost all Hungarian private pension fund members returned to the state pillar when given the option last year.