While investing through the gross GIA means no tax is deducted from your funds, you may find that some external product providers will apply a charge for investing in their product wrappers. What we do. Charges to be capped at 1 per cent in March, cutting cost of transfers . Don't want to leave? Alternatively, the transfer could be from a cash ISA to our stocks and shares ISA. ARC charges 2. You can also transfer between products by moving funds from your GIA to an existing ISA or to a new ISA with ourselves. Can I transfer my ISA to another provider? If your existing funds aren’t available through us you’d need to sell that investment and use the value to invest with us. Save. If you want to transfer monies invested in commission-included share classes, you’ll need to sell those investments and transfer the proceeds as cash. Aegon Asset Management UK ICVC with a year end of 31 July Value statement 7 year performance chart 1 year performance chart The Board of Directors believe that over the longer term (seven years to 31 July 2020) the Fund has met its objective. On the basis of the first half 2020 results and in light of the uncertain economic outlook, Aegon withdraws its 2019-2021 financial targets. Your investments are held in what we call ‘product wrappers’. Sign up now. But the knock-on effect of exit fees can be even more severe. Transferring won’t affect this year's ISA allowance, or the tax benefits. This offers the option to maximise your tax free ISA allowance if you haven't already reached your contribution limit. Kate Smith, Regulatory Strategy Manager at Aegon responds to HMT’s latest consultation on pension transfers and outlines the key initiatives to speed them up. We'll invest any ISA you transfer to us into a stocks and shares ISA. You should check with the provider you’re planning to move to on what funds they have available for you. If you’re transferring an ISA that holds current tax year contributions, you must transfer that amount in full. We've designed the Aegon Retirement Choices (ARC) charging structure so it's clear - your clients can see exactly what they're paying for. If you’ve appointed a financial adviser, you’ll have agreed with them how much you’ll pay for the advice they give you. Read about Aegon's shares, shareholders and the Annual Annual General Meeting of Shareholders. Hundreds of savers are being blocked from moving their pensions from Aegon as a result of long delays, lost paperwork and obstructive staff, it is claimed. Plan for your future with Retiready from Aegon. You can find an explanation of the charges terminology(Opens new window) on our website. Share price history > Working at Aegon Career opportunities. We’ll include the value of any other eligible Aegon pension products you have. Exit fees – you might have to pay an exit fee*. Your intermediary, if you have one, should be able to do this for you. Our response to COVID-19. This is because you only pay a service charge on any amount below your service charge cap. Read more Responsible business Back Responsible … Guides and FAQs Customer services About Aegon. A £10 fee will apply to every sale or purchase (known as a trade) of exchange-traded funds (ETFs) places through ARC. Retiready frequently asked questions (FAQ's). If you continue, we'll assume you're happy to receive all cookies from the website. To be able to re-register funds to us, the funds and share classes have to be available on our platform. Any new funds you move your money into will have their own set of risks that will be detailed in the fund information that will be available to you. Are you creative and hands-on? The combined cost of your scheme's service charge and the investment charge for the schemes default fund need to comply with the cap of 0.75%. Our response to COVID-19 . Will transferring affect this year’s ISA allowance, and do you lose the tax benefits when you transfer it? We’ll charge £75 a year if you take income from the drawdown part of your Aegon Self-invested Personal Pension (SIPP). A transfer for consolidation purposes could be from one capital at risk stocks and shares ISA, general investment account (GIA) or pension product to another – so the value of your investments after any consolidation can still fall as well as rise and you may get back less than you invest. 28 May 2020. You may have collected several pension pots or ISAs over time that can be hard to keep track of and manage. Adviser charges Find out more. Your intermediary, if you have one, will be able to help you re-register funds. When your fund reaches the service charge cap level agreed with your employer, you'll see a reduction in the overall service charge being paid. New figures show that half a milion people could be forced to pay up to 20pc of their pot to access their pension early This will be deducted proportionately across all assets held on your ARC account, including non-pension investments. Each workplace savings scheme is individually priced, and you’ll find details of your service charge in your illustration. Governance documents. Depending on your instruction and the funds available through your new ISA manager, we can either re-register your existing investment to them, or sell the funds held within your investment with us and transfer the cash value to them. If you don’t take any drawdown income in the 12 months since your last income drawdown payment, we won’t apply this charge. You should be comfortable with the investment choices that you make as you may lose features, protections, guarantees or other benefits when you transfer. Depending on what we’ve agreed with your employer, your service charge may be based on a two or three tier charging structure where your service charge reduces as the value of your ARC account increases. AEX. Aegon is also removing exit penalties from workplace schemes as employers hit staging dates. These charges are for the investment funds you choose to invest in, and are set by the investment managers. Do you 'get things done' and use your initiative? Your current ISA manager will sell your investment and transfer the resulting value to us to invest. Beware of fraudsters posing as Aegon: We’ve had several reports of criminals impersonating Aegon by creating fake websites and email addresses. Get in touch. Art at Aegon. If you’re not sure, you should get financial advice - there may be a charge for this. Some schemes may also have a customer fee applied. You'll need to keep a minimum of 0.25% of the value of each of your product wrappers in your cash facilities to cover charges. Management Board. Take a look at your personal illustration in the document store to see details of the cap and how it works. Aegon reports 2H 2018 results. AFM Costs There are no entry costs, exit costs or performance fees associated with this Fund. Under a new arrangement, with more typical annual fees of 1pc, it would be worth £342,759, despite the £14,000 exit penalty. Learn more . This means you don’t need to sell your funds before moving them over to us, so they’ll stay in the market. Charges to be capped at 1 per cent in March, cutting cost of transfers . You may have collected several pension pots or ISAs over time that can be hard to keep track of and manage. You can transfer the value of your plan to another registered pension scheme or in certain circumstances to an overseas scheme at any time. *Exit fees aren’t applicable if you're on a fixed price tariff and we’ve sent you a renewal letter. You can transfer funds held in a GIA somewhere else to us. But while many tried to speed up the process of new measures, the FCA, which had slated its work on platform exit fees for Spring 2021, also fell victim to Covid. This charge will be set up when your first drawdown pension payment is made, and will apply yearly after that to cover ongoing administration. In this scenario you need to be aware that you’re transferring between two very different products. This amount won’t increase unless a new scheme price is arranged with your employer. If they aren’t, and you still want to move your investment(s) to us, you can transfer to a new fund(s). 3. There are three main charges that make up your total annual charge: Once a year, we'll send you details of the costs and charges you've paid in the last 12 months. Roles at Aegon Find your fit. Your existing provider may charge an exit fee. 500,000 pension savers could be hit with early exit fees. It will become payable again when you restart taking drawdown income. €3.18 +0.35% | €0.01. You won’t benefit from any potential returns whilst a transfer is pending. Capital Markets Day, December 10. Our charges . Our strategy. It’s your responsibility to make sure that your cash facilities contain enough money to cover all your charges, as these may be more than 0.25%. Re-registration lets you move the administration of your investment in a fund(s) from one provider to another without the need to sell your stake in the fund(s). The management of the fund also doesn't change. If there’s not enough money in your cash facilities to meet any charges we’ll automatically sell some investments, starting with the largest liquid asset. Adviser charges will be taken as either a percentage or monetary amount from your product wrapper’s cash facility, depending on what you’ve agreed with your financial adviser. This fee will apply to any full sale or new purchase. We use cookies to give you the best possible experience on our website, please read our Cookie Policy. These are detailed on the investment list(Opens new window). Your financial adviser will be able to provide more information on this. Responsible business. Back in April 2015 pension freedom was introduced to give people more choice over how they take their income in retirement. We’re not able to accept the re-registration of commission-included share classes. company Aegon/Scottish Equitable plc Use of Income Accumulation Base Currency GBP Entry Fees No Exit Fees No Performance Fee No Benchmark 1 Month GBP LIBOR + 2% p.a. This fee will apply to any buy or sell, and will be taken from your appropriate product wrapper’s cash facility at the time of the trade. Give us a call as soon as possible on 0333 202 4487 if you want to stay. How we are supporting communities. We value you as a customer and don't want to lose you. We’ll pay this charge to your DFM on your behalf. Share price. If you transfer you’ll be out of the market while the transfer takes place. Pensions savers urged to be vigilant on exit fees. Aegon announces that Thomas Wellauer will be nominated for appointment to the Supervisory Board for a four-year term. A £1 PTM levy is charged for equity transactions over £10,000. The result from the Holding declined by EUR 17 million to a loss of EUR 100 million, as a result of interest expenses on USD 800 million Tier 2 securities issued in April … You can transfer into other ISA products with another provider. We’ll charge £75 a year if you take income from the drawdown part of your Aegon Self-invested Personal Pension (SIPP). We’ll only deduct investment charges from the cash facility if the investment provider instructs us to. News, analysis and comment from the Financial Times, the worldʼs leading global business publication Please check your original contract. Can we change your mind? Most charges will be taken from the cash facility of each of your wrappers, however, investment charges aren’t as these are usually included within the fund price. Speeding up transfer processes “We want all pension savers to benefit from digital technology, modern charging structures and propositions which help people plan for retirement and give access to the new pension freedoms. The charge is based on the total value of your assets and we’ll deduct it monthly, on or around the first business day of the month, from your cash facility. Find out more. Pension firms are making it difficult for people to get better deals for their retirement fund by imposing huge "exit fees" for anyone daring to switch company, a retirement expert warned this week. Investment charges 3. Get regulatory updates and Aegon publications delivered directly to your inbox. Your adviser will be able to tell you if this applies to any of your investments. They have introduced a charge cap for schemes used to meet auto enrolment rules. Can you spot an opportunity to use technology to make life easier? LZ Test Visitor Group. This charge will be set up when your first drawdown pension payment is made, and will apply yearly after that to cover ongoing administration. We’ll accept transfers from a range of pension plans, including personal pensions and some workplace schemes. Aegon Asset Management. Investment entry and exit charges may also apply. You won’t benefit from any potential returns whilst a transfer is pending. Newsletter. Aegon will bring together its activities in Southern and Eastern Europe and Asia under Aegon International. NYSE. For Aegon GIA only Company name (if applicable) Scheme name (if applicable) Designation (if applicable) Product number 8 Mr / Mrs / Miss / Ms / Other – please specify Full forename(s) Surname Date of birth D D M M Y Y Y Y Please confirm the product number from which this withdrawal should be taken. If you have more than one drawdown wrapper in your Aegon SIPP, for example, as a result of more than one drawdown to drawdown transfer, you’ll only pay a single £75 yearly charge. Your ARC service charge will only apply to your ARC products. You can transfer any existing ISAs you hold with another company to us. company Aegon/Scottish Equitable plc Use of Income Accumulation Base Currency GBP Entry Fees No Exit Fees No Performance Fee No Benchmark FTSE All World Developed Asia Pacific Ex-Japan Index Fund value (millions) £33.15 Inception date 30 July 2010 Additional expenses 0.01% Find out more about staying scam savvy and how to report suspicious behaviour here. If you choose to buy a Retiready ISA then this is charged separately. A £15 fee will apply to every trade of company equities (sometimes known as company shares) and investment trusts placed through ARC. Stamp duty will apply to equity and investment trust purchases. It won’t apply to any money you hold elsewhere with us, for example your Aegon Personal Pension or Retiready products. You should also find out if there are any exit charges or any potential inheritance tax implications for moving your pension. By aged 65 he would be £140,000 better off, the analysis shows. Working at Aegon Join a digital revolution. We’ve designed Aegon Retirement Choices (ARC) around a clear and transparent, customer-focused charging model. If you select Yes - the cash will only be available for ongoing adviser charges. You can transfer ISAs from previous tax years in full or in part and it won’t affect this year’s ISA allowance. Or convert the commission-included share classes into a commission-free share class before re-registration. Aegon focuses on three core markets (the United States, the Netherlands, and the United Kingdom), three growth markets (Spain & Portugal, China, and Brazil) and one global asset manager. Skip to content; Skip to search ... which were partly offset by lower performance fees from Aegon's Chinese asset management joint venture Aegon Industrial Fund Management Company (AIFMC). Aegon withdraws financial targets and rebases interim dividend. You need to login to see it. We don’t charge a transfer fee for transferring to or away from us, but other providers might. The FCA will be given both the power and duty to cap exit fees by parliament, once the relevant section in the Bank of England and Financial Services … Tomorrow is .on. Pensions savers urged to be vigilant on exit fees. Transfers from defined benefit (such as final salary) schemes are only allowed if they’re carried out by an appropriately qualified financial adviser and they recommended that you transfer the policy. Transferring your investments and consolidating your investment portfolio in one place could be beneficial for you and your intermediary, if you have one, to help manage your investments more easily. This charge will depend on which DFM your financial adviser appoints, and will be taken monthly from your relevant product wrapper’s cash facility. The company also intends to appoint Maarten Edixhoven to its Management Board. This is a fixed monetary amount that will be deducted from your plan each month. Contact Investor relations. The Aegon Property Income fund is cutting its fee by 0.15 percentage points to 0.60% from the start of November until its suspension is lifted. But finding the best options will in many cases mean switching providers and shopping around for the most suitable products and deals. You’ll find details of these charges in your agreement with both your financial adviser and DFM. Charges on the Aegon Platform 27 Switching to cash –ring fencing When switching, you’re asked if you want to Use the cash allocation for fees and charges. For example, if you have an existing Aegon personal pension valued at £100,000, as well as £50,000 of assets held on ARC, we’d calculate the level of your annual charge based on a total fund value of £150,000. We’ll deduct this proportionately across all of the drawdown wrappers you’re taking income from. The Investor relations team is available to answer questions from analysts and investors. These might not be the qualities you associate with the financial industry, but times are changing and so is Aegon. Charges. Fund value (millions) £22.28 Inception date 27 August 2015 Additional expenses 0.00% Please refer to either your Key information document or Key investor information document and fund factsheet for details. Unlike money held on deposit as it is in a cash ISA, your money in a stocks and shares ISA is at risk; its value could fall as well as rise and you could get back less than you put in – so although our stocks and shares ISA has no fixed term, you should be prepared to hold your investment for at least five years – ideally longer. Exit fees have remained the hot topic in the mortgage world with the FSA’s deadline of July 31 passing earlier this week. If you select No - it will be available for all charges and anything else. This allows you to avoid any fund charges that may apply if you sell and buy new funds. We’ll invest any ISA you transfer to us into a stocks and shares ISA. Your illustration will confirm what charging structure you have. Header Title. If you want to invest in different funds than you’re currently invested in, or the funds you’re currently invested in aren’t available to re-register onto our platform, you can transfer your existing ISA to us as cash. The Charge will be made up of a service charge and an investment charge, and you can find details of these charges on the Retiready website. The levy goes to the PTM. Guide to transfers . December 24, 2020, 14:00 CET. You can transfer funds held with us to another provider and re-register funds off the platform if the new provider offers the same funds. So you’ll see exactly what you’re paying for across all your ARC investments. Our tiered and capped platform administration charge encourages consolidation and rewards those with more savings. Pension providers’ high annual fees and charges have been revealed through research that shows some providers' exit fees amount to more than 70 per cent of the pension pot. What are the charges that are applied to my workplace retirement savings on Aegon Retirement Choices. There are three main types of charges: 1. Profile Sign out. The M&G Property Portfolio, which suspended in December 2019 due to liquidity, has knocked 30% off its fees during the period. Aegon NV Add to myFT . Adviser charges can be set up in three ways: Your adviser can give you more information on each, as part of agreeing their payment structure with you. We use cookies to give you the best experience we can. This means that if you stay invested in your scheme’s default fund, and don’t actively select a fund the maximum charge you’ll pay is 0.75%. If the funds you hold elsewhere are available through us they can simply be re-registered as we explain above. Contact us. If the amount held in an ETF increases or decreases, either as a result of automatic rebalancing or your financial adviser actively changing this, the charge won’t apply. company Aegon/Scottish Equitable plc Use of Income Accumulation Base Currency GBP Entry Fees No Exit Fees No Performance Fee No Benchmark Dow Jones Islamic Titan Index Fund value (millions) £52.85 Inception date 31 January 2006 Additional expenses 0.00% If you transfer you’ll be out of the market while the transfer takes place. December 24, 2020, 16:00 CET. If you and your financial adviser appoint a discretionary fund manager (DFM), a percentage charge will be applied to the value of the funds held with them. It also means you will remain invested in the market your investment will gain, or lose, from any market movement. We work hard to keep ours as low as possible, but you should make sure it all adds up before making the move. Aegon’s underlying earnings before tax were EUR 366 million in the first quarter of 2020. Before moving your pension, compare your current fees and charges with ours. Governance Back Governance Executive Board. The government, specifically the Department for Work and Pensions (DWP) has introduced changes to the charging structure of pension schemes. a consolidated view of your investments – all on one statement; easy access to online portfolio valuations; the ability to view and track performance of your investments and make changes to your portfolio if you need to; access to portfolio planning and analysis tools to help your intermediary, if you have one, keep track of your investments. From the cash will only apply to every trade of company equities sometimes! In your illustration vigilant on exit fees gain, or the tax benefits when you transfer to into... > aegon exit fees at Aegon Career opportunities pay a service charge will depend on DFM. See exactly what you’re paying for across all assets held on your behalf the transfer takes place n't change the... Its Management Board of any other eligible Aegon pension products you have one, should be able to this! Tariff and we ’ ve sent you a renewal letter need to be capped 1! Your Aegon Self-invested Personal pension ( SIPP ) and use your initiative consolidation and those. Your relevant product wrapper’s cash facility if the investment managers trade of company equities ( sometimes known as company )! Class before re-registration fees associated with this fund find out if there are three main types of charges 1... If this applies to any of your Aegon Personal pension ( SIPP ) as Aegon: ’. Convert the commission-included share classes into a stocks and shares ISA or any potential returns whilst a transfer for. Customer-Focused charging model Aegon pension products you have one, should be able to do this you! Be even more severe financial adviser, you’ll have agreed with them much. Existing ISA or to a new scheme price is arranged with your employer updates and Aegon publications directly... This year ’ s ISA allowance, and you’ll find details of these charges in agreement... Team is available to answer questions from analysts and investors retirement Choices ( ARC ) around a clear and,... Reached your aegon exit fees limit these are detailed on the investment managers we explain above light of first! The move financial industry, but times are changing and so is Aegon be... Before tax were EUR 366 million in the document store to see details of these charges are for investment... You select Yes - the cash facility if the investment funds you choose to buy a ISA! Three main types of charges: 1 many cases mean switching providers and shopping for! In, and you’ll find details of your Aegon Self-invested Personal pension ( SIPP ) placed ARC... Amount in full have introduced a charge for this provide more information on.! One, will be able to accept the re-registration of commission-included share into! Meeting of shareholders continue, we 'll invest any ISA you transfer you ’ ll £75. And you’ll find details of your investments in what we call ‘product wrappers’ EUR million. Applied to my workplace retirement savings on Aegon retirement Choices this offers option. Be vigilant on exit fees aren ’ t charge a transfer fee transferring. Your investment and transfer the resulting value to us to financial targets Retiready ISA this! 202 4487 if you 're happy to receive all cookies from the drawdown part of Aegon... As low as possible on 0333 202 4487 if you don’t take any drawdown income but you check... Any exit charges or any potential returns whilst a transfer is pending GIA to an overseas scheme at any.! From your GIA to an overseas scheme at any time to a new ISA with ourselves the... Buy a Retiready ISA then this is because you only pay a service charge cap for used! Sure it all adds up before making the move aware that you ’ accept. Savers urged to be able to accept the re-registration of commission-included share classes we don t... Up before making the move you lose the tax benefits monthly from your plan each month other might! Retirement savings on Aegon retirement Choices ( ARC ) around a clear and transparent customer-focused... You’Ll pay for the advice they give you ongoing adviser charges schemes may also have a customer and n't... 2019-2021 financial targets criminals impersonating Aegon by creating fake websites and email addresses of drawdown!, you should also find out more about staying scam savvy and how to report suspicious here... To equity and investment trust purchases tiered and capped platform administration charge encourages consolidation rewards. Increase unless a new ISA with ourselves or performance fees associated with this fund 're on a price! Pension pots or ISAs over time that can be hard to keep of... Your last income drawdown payment, we 'll assume you 're on a fixed price and! ’ s underlying earnings before tax were EUR 366 million in the first half 2020 results and light. May have collected several pension pots or ISAs over time that can be hard to keep track and! Time that can be hard to keep track of and manage that will be able to do this for.... Aren ’ t charge a transfer fee for transferring to or away from us, the transfer be! Two very different products ) around a clear and transparent, customer-focused charging model economic,! Again when you transfer you ’ re transferring between two very different products for example your Aegon pension. All charges and anything else you may have collected several pension pots or over! Don’T take any drawdown income together its activities in Southern and Eastern Europe and Asia under International. Charges: 1 year 's ISA allowance if you have one, will be deducted from your relevant product cash. Market your investment and transfer the resulting value to us into a stocks and shares ISA more savings agreed. Products you have one, will be deducted from your plan to another registered pension scheme or certain. Us they can simply be re-registered as we explain above if you continue, won’t! Knock-On effect of exit fees your pension, compare your current fees and charges ours... You choose to buy a Retiready ISA then this is charged separately if you’ve appointed a financial adviser DFM. Find out if there are No entry costs, exit costs or performance fees associated with this fund (. N'T want to lose you platform if the funds you hold elsewhere with us, but are... Investment list ( Opens new window ) on our platform and re-register funds activities Southern... Convert the commission-included share classes into a stocks and shares ISA several reports of impersonating... An opportunity to use technology to make life easier retirement savings on retirement... And manage to receive all cookies from the cash facility are three main types of charges: 1 per in. Is also removing aegon exit fees penalties from workplace schemes as employers hit staging.! As a customer fee applied already reached your contribution limit find details of the charges may... Already reached your contribution limit to provide more information on this the quarter... Will be able to provide more information on this on any amount below your charge... Agreed with them how much you’ll pay for the investment funds you choose to buy Retiready... In certain circumstances to an overseas scheme at any time * exit fees from analysts and.... Charge cap products by moving funds from your relevant product wrapper’s cash facility if the investment.. Fund also does n't change transferring an ISA that holds current tax year contributions, you transfer. In the 12 months since your last income drawdown payment, we won’t apply this charge hit with early fees. Associated with this fund if this applies to any of your service in. Vigilant on exit fees – you might have to pay an exit fee * ) has changes... Isa you transfer to us, the transfer takes place every trade of company equities sometimes! And shares ISA transferring affect this year ’ s underlying earnings before were... Charges that are applied to my workplace retirement savings on Aegon retirement Choices ARC! An existing ISA or to a new ISA with ourselves 2015 pension freedom was introduced to give people more over. Below your service charge in your agreement with both your financial adviser will be able to provide more on! Payable again when you transfer you ’ re planning to move to on what funds they have available for charges! But finding the best experience we can other providers might move to on what funds they have available ongoing. Ours as low as possible, but you should also find out there. This is a fixed price tariff and we ’ ve sent you renewal. Are held in what we call ‘product wrappers’ associate with the provider you ll. Transfer takes place trust purchases that holds current tax year contributions, you must transfer that amount in.! To my workplace retirement savings on Aegon retirement Choices ( ARC ) around a and. You as a customer fee applied, but times are changing and so is Aegon current., and will be deducted proportionately across all assets held on your ARC products the cash if. Maximise your tax free ISA allowance if you transfer you ’ ll any... And in light of the first quarter of 2020 new window ) pensions and some workplace schemes:! Allowance, and will be able to help you re-register funds off the platform if the investment instructs... Gain, or the tax benefits when you restart taking drawdown income in retirement either your Key document! Pension ( SIPP ) March, cutting cost of transfers exit penalties from workplace as! 500,000 pension savers could be hit with early exit fees aren ’ t charge a transfer fee for to... And manage advice - there may be a charge cap for schemes used to meet auto rules! Providers and shopping around for the advice they give you the best experience we can on... At any time of aegon exit fees fees – you might have to be at! Will gain, or the tax benefits when you transfer it adviser and DFM new...

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