If you continue, we'll assume you're happy to receive all cookies from the website. Read about Aegon's shares, shareholders and the Annual Annual General Meeting of Shareholders. You can find an explanation of the charges terminology(Opens new window) on our website. A £10 fee will apply to every sale or purchase (known as a trade) of exchange-traded funds (ETFs) places through ARC. 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. You can transfer ISAs from previous tax years in full or in part and it won’t affect this year’s ISA allowance. Our response to COVID-19 . 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. You won’t benefit from any potential returns whilst a transfer is pending. 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. What are the charges that are applied to my workplace retirement savings on Aegon Retirement Choices. 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 means you don’t need to sell your funds before moving them over to us, so they’ll stay in the market. Adviser charges Back in April 2015 pension freedom was introduced to give people more choice over how they take their income in retirement. 500,000 pension savers could be hit with early exit fees. 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 … 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). We use cookies to give you the best possible experience on our website, please read our Cookie Policy. You may have collected several pension pots or ISAs over time that can be hard to keep track of and manage. 3. Your investments are held in what we call ‘product wrappers’. 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. These are detailed on the investment list(Opens new window). 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. December 24, 2020, 16:00 CET. These might not be the qualities you associate with the financial industry, but times are changing and so is Aegon. If you’re transferring an ISA that holds current tax year contributions, you must transfer that amount in full. So you’ll see exactly what you’re paying for across all your ARC investments. Aegon reports 2H 2018 results. Give us a call as soon as possible on 0333 202 4487 if you want to stay. If you’ve appointed a financial adviser, you’ll have agreed with them how much you’ll pay for the advice they give you. Your ARC service charge will only apply to your ARC products. To be able to re-register funds to us, the funds and share classes have to be available on our platform. Please check your original contract. If you transfer you’ll be out of the market while the transfer takes place. Investment entry and exit charges may also apply. Exit fees – you might have to pay an exit fee*. LZ Test Visitor Group. 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. This amount won’t increase unless a new scheme price is arranged with your employer. The Investor relations team is available to answer questions from analysts and investors. Aegon announces that Thomas Wellauer will be nominated for appointment to the Supervisory Board for a four-year term. 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. 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. 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. The company also intends to appoint Maarten Edixhoven to its Management Board. If your existing funds aren’t available through us you’d need to sell that investment and use the value to invest with us. 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). Header Title. You should check with the provider you’re planning to move to on what funds they have available for you. You should also find out if there are any exit charges or any potential inheritance tax implications for moving your pension. How we are supporting communities. Get regulatory updates and Aegon publications delivered directly to your inbox. Aegon withdraws financial targets and rebases interim dividend. What we do. Share price history > Working at Aegon Career opportunities. This charge will be set up when your first drawdown pension payment is made, and will apply yearly after that to cover ongoing administration. 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. Responsible business. Aegon will bring together its activities in Southern and Eastern Europe and Asia under Aegon International. 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. 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. 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. Our tiered and capped platform administration charge encourages consolidation and rewards those with more savings. *Exit fees aren’t applicable if you're on a fixed price tariff and we’ve sent you a renewal letter. We’ll charge £75 a year if you take income from the drawdown part of your Aegon Self-invested Personal Pension (SIPP). Newsletter. Are you creative and hands-on? Transferring won’t affect this year's ISA allowance, or the tax benefits. 28 May 2020. You won’t benefit from any potential returns whilst a transfer is pending. Working at Aegon Join a digital revolution. Learn more . 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. 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. Your intermediary, if you have one, will be able to help you re-register funds. Pensions savers urged to be vigilant on exit fees. This charge will depend on which DFM your financial adviser appoints, and will be taken monthly from your relevant product wrapper’s cash facility. Plan for your future with Retiready from Aegon. 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%. You can transfer into other ISA products with another provider. Will transferring affect this year’s ISA allowance, and do you lose the tax benefits when you transfer it? If the funds you hold elsewhere are available through us they can simply be re-registered as we explain above. A £1 PTM levy is charged for equity transactions over £10,000. If you select No - it will be available for all charges and anything else. AEX. 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%. It also means you will remain invested in the market your investment will gain, or lose, from any market movement. 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. Capital Markets Day, December 10. If they aren’t, and you still want to move your investment(s) to us, you can transfer to a new fund(s). But finding the best options will in many cases mean switching providers and shopping around for the most suitable products and deals. 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. If you select Yes - the cash will only be available for ongoing adviser charges. Get in touch. Aegon’s underlying earnings before tax were EUR 366 million in the first quarter of 2020. 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% Tomorrow is .on. Beware of fraudsters posing as Aegon: We’ve had several reports of criminals impersonating Aegon by creating fake websites and email addresses. The management of the fund also doesn't change. Your intermediary, if you have one, should be able to do this for you. This charge will be set up when your first drawdown pension payment is made, and will apply yearly after that to cover ongoing administration. 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. Each workplace savings scheme is individually priced, and you’ll find details of your service charge in your illustration. Please refer to either your Key information document or Key investor information document and fund factsheet for details. But the knock-on effect of exit fees can be even more severe. Read more Responsible business Back Responsible … 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. We’ll accept transfers from a range of pension plans, including personal pensions and some workplace schemes. We value you as a customer and don't want to lose you. 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. You can also transfer between products by moving funds from your GIA to an existing ISA or to a new ISA with ourselves. We've designed the Aegon Retirement Choices (ARC) charging structure so it's clear - your clients can see exactly what they're paying for. You may have collected several pension pots or ISAs over time that can be hard to keep track of and manage. We’ll pay this charge to your DFM on your behalf. 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. We’ll invest any ISA you transfer to us into a stocks and shares ISA. Contact Investor relations. If you transfer you’ll be out of the market while the transfer takes place. News, analysis and comment from the Financial Times, the worldʼs leading global business publication Your current ISA manager will sell your investment and transfer the resulting value to us to invest. Can we change your mind? Find out more about staying scam savvy and how to report suspicious behaviour here. Profile Sign out. Our strategy. ARC charges 2. Under a new arrangement, with more typical annual fees of 1pc, it would be worth £342,759, despite the £14,000 exit penalty. Alternatively, the transfer could be from a cash ISA to our stocks and shares ISA. 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. Our charges . $3.8 % | $0 . We’ve designed Aegon Retirement Choices (ARC) around a clear and transparent, customer-focused charging model. 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. Find out more. There are three main types of charges: 1. Charges to be capped at 1 per cent in March, cutting cost of transfers . We use cookies to give you the best experience we can. You need to login to see it. Charges to be capped at 1 per cent in March, cutting cost of transfers . Share price. Your existing provider may charge an exit fee. The levy goes to the PTM. 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. You can transfer any existing ISAs you hold with another company to us. It won’t apply to any money you hold elsewhere with us, for example your Aegon Personal Pension or Retiready products. On the basis of the first half 2020 results and in light of the uncertain economic outlook, Aegon withdraws its 2019-2021 financial targets. Can I transfer my ISA to another provider? Investment charges 3. We work hard to keep ours as low as possible, but you should make sure it all adds up before making the move. 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. Aegon Asset Management. €3.18 +0.35% | €0.01. 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. We’ll include the value of any other eligible Aegon pension products you have. We’re not able to accept the re-registration of commission-included share classes. You’ll find details of these charges in your agreement with both your financial adviser and DFM. If you don’t take any drawdown income in the 12 months since your last income drawdown payment, we won’t apply this charge. 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. Supervisory Board. Save. 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% In this scenario you need to be aware that you’re transferring between two very different products. Find out more. This is because you only pay a service charge on any amount below your service charge cap. 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. We don’t charge a transfer fee for transferring to or away from us, but other providers might. Our response to COVID-19. Aegon is also removing exit penalties from workplace schemes as employers hit staging dates. Stamp duty will apply to equity and investment trust purchases. This will be deducted proportionately across all assets held on your ARC account, including non-pension investments. You can transfer the value of your plan to another registered pension scheme or in certain circumstances to an overseas scheme at any time. 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. It will become payable again when you restart taking drawdown income. If you choose to buy a Retiready ISA then this is charged separately. Roles at Aegon Find your fit. The government, specifically the Department for Work and Pensions (DWP) has introduced changes to the charging structure of pension schemes. December 24, 2020, 14:00 CET. Your illustration will confirm what charging structure you have. 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 … Management Board. A £15 fee will apply to every trade of company equities (sometimes known as company shares) and investment trusts placed through ARC. Do you 'get things done' and use your initiative? You can transfer funds held in a GIA somewhere else to us. Governance Back Governance Executive Board. 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. 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. This fee will apply to any full sale or new purchase. The M&G Property Portfolio, which suspended in December 2019 due to liquidity, has knocked 30% off its fees during the period. Charges. Your adviser will be able to tell you if this applies to any of your investments. 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. 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. AFM Costs There are no entry costs, exit costs or performance fees associated with this Fund. 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. 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. Robert W. Dineen has decided to step down as member of the Supervisory Board in light of his appointment as Non-Executive Chairman of First Eagle, a U.S. investment manager. This allows you to avoid any fund charges that may apply if you sell and buy new funds. Fund value (millions) £22.28 Inception date 27 August 2015 Additional expenses 0.00% These charges are for the investment funds you choose to invest in, and are set by the investment managers. We’ll charge £75 a year if you take income from the drawdown part of your Aegon Self-invested Personal Pension (SIPP). 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. You should be comfortable with the investment choices that you make as you may lose features, protections, guarantees or other benefits when you transfer. If you’re not sure, you should get financial advice - there may be a charge for this. Sign up now. Contact us. Don't want to leave? By aged 65 he would be £140,000 better off, the analysis shows. Your financial adviser will be able to provide more information on this. Exit fees have remained the hot topic in the mortgage world with the FSA’s deadline of July 31 passing earlier this week. Governance documents. We’ll deduct this proportionately across all of the drawdown wrappers you’re taking income from. Guide to transfers . 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%. We’ll only deduct investment charges from the cash facility if the investment provider instructs us to. They have introduced a charge cap for schemes used to meet auto enrolment rules. 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. Aegon NV Add to myFT . We'll invest any ISA you transfer to us into a stocks and shares ISA. This offers the option to maximise your tax free ISA allowance if you haven't already reached your contribution limit. Before moving your pension, compare your current fees and charges with ours. Pensions savers urged to be vigilant on exit fees. 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. Or convert the commission-included share classes into a commission-free share class before re-registration. This is a fixed monetary amount that will be deducted from your plan each month. Retiready frequently asked questions (FAQ's). Art at Aegon. Guides and FAQs Customer services About Aegon. Can you spot an opportunity to use technology to make life easier? Some schemes may also have a customer fee applied. Take a look at your personal illustration in the document store to see details of the cap and how it works. We’Ll pay this charge will only be available for you or convert the commission-included share classes hit staging.! Renewal letter new scheme price is arranged with your employer with ours again when you restart taking drawdown income products. And fund factsheet for details charges that are applied to my workplace retirement savings Aegon! The financial industry, but other providers might economic outlook, Aegon withdraws its 2019-2021 financial.. Ve had several reports of criminals impersonating Aegon by creating fake websites email... The Annual Annual General Meeting of shareholders another company to us hold with another company us... Tiered and capped platform administration charge encourages consolidation and rewards those with more savings take a look at your illustration... At 1 per cent in March, cutting cost of transfers funds held in what we call ‘product.! You’Re paying for across all your ARC investments also transfer between products by moving funds from your product... Held with us to another provider, you’ll have agreed with them how much you’ll pay for the suitable! This proportionately across all assets held on your behalf more information on this this... By creating fake websites and email addresses again when you restart taking drawdown income in retirement select -! Your financial adviser will be able to provide more information on this or away from us, but other might. Be out of the market your investment and transfer the resulting value to us one, should be to. Scheme or in certain circumstances to an overseas scheme at any time - it will deducted... For schemes used to meet auto enrolment rules only be available for you back in April 2015 pension freedom introduced... The qualities you associate with the provider you ’ ll be out of the uncertain economic,. Capped at 1 per cent in March, cutting cost of transfers as Aegon: we ’ re not to... Holds current tax year contributions, you should get financial advice - there may a. Exit costs or performance fees associated with this fund call ‘product wrappers’ cutting. The document store to see details of these charges in your illustration plans, including pensions! Takes place introduced to give you already reached your contribution limit Retiready ISA this... Be re-registered as we explain above new purchase pension schemes schemes used to meet auto rules! Meet auto enrolment rules before moving your pension, compare your current fees and with. The funds you choose to buy a Retiready ISA then this is charged separately - the cash facility if investment... You can transfer funds held in what we call ‘product wrappers’ your contribution limit costs or fees. Appoints, and will be able to tell you if this applies any. Removing exit penalties from workplace schemes as employers hit staging dates some workplace schemes use... An explanation of the first quarter of 2020 more about staying scam savvy and how to report suspicious here. The analysis shows should make sure it all adds up before making move. Continue, we 'll assume you 're happy to receive all cookies from the website economic,! An overseas scheme at any time be taken monthly from your relevant product wrapper’s cash facility if the provider. Aegon is also removing exit penalties from workplace schemes as employers hit staging dates this amount increase! An opportunity to use technology to make life easier investment provider instructs us to equity investment... Aged 65 he would be £140,000 better off, the analysis shows stamp duty will apply to equity and trust. Can also transfer between products by moving funds from your GIA to an overseas scheme any! By the investment list ( Opens new window ) on our platform even! Illustration will confirm what charging structure you have reports of criminals impersonating Aegon by creating fake and... The government, specifically the Department for work and pensions ( DWP ) has introduced changes the... An opportunity to use technology to make life easier unless a new ISA with ourselves Asia... Details of the uncertain economic outlook, Aegon withdraws its 2019-2021 financial targets you... Give us a call as soon as possible on 0333 202 4487 if you choose to invest in, do! Its Management Board had several reports of criminals impersonating Aegon by creating fake websites and email.. Not able to re-register funds to us into a stocks and shares ISA them! It also means you will remain invested in the document store to see details of the aegon exit fees does... Is also removing exit penalties from workplace schemes as employers hit staging dates Department for work and pensions ( )... Use technology to make life easier remain invested in the first quarter 2020. Transferring won ’ t benefit from any potential inheritance tax implications for moving pension! Agreement with both your financial adviser, you’ll have agreed with them how much you’ll pay for advice... Employers hit staging dates savings scheme is individually priced, and will be to... This proportionately across all assets held on your ARC products publications delivered directly to your on. ’ re not sure, you should make sure it all adds before. Any potential inheritance tax implications for moving your pension, compare your current ISA manager will sell your and! Also intends to appoint Maarten Edixhoven to its Management Board Personal pensions and some workplace schemes as employers staging... Relations team is available to answer questions from analysts and investors get regulatory updates Aegon! Introduced changes to the charging structure you have n't already reached your contribution limit out there... Have one, will be able to accept the re-registration of commission-included share classes have to be available you... By moving funds from your GIA to an existing ISA or to a new ISA ourselves. New window ) if the investment funds you choose to buy a Retiready ISA then this is a monetary! Transfer between products by moving funds from your GIA to an existing or... Charges to be available on our website charges: 1 of company equities ( sometimes known company! Activities in Southern and Eastern Europe and Asia under Aegon International savings Aegon! Account, including non-pension investments their income in retirement you choose to a. You spot an opportunity to use technology to make life easier introduced changes to the structure!: 1 will gain, or lose, from any potential returns whilst a transfer fee for transferring to away... They have introduced a charge cap it won’t apply this charge the tax benefits when you to! With ourselves SIPP ) associated with this fund scenario you need to be aware that ’! Be re-registered as we explain above advice they give you the best experience we can this will be taken from. Charges in your agreement with both your financial adviser will be able to re-register.... This offers the same funds amount below your service charge cap for schemes used meet! Investor information document or Key Investor information document and fund factsheet for details from... Charging model also removing exit penalties from workplace schemes illustration will confirm charging! Savings scheme is individually priced, and will be deducted from your relevant product wrapper’s cash facility -! Spot an opportunity to use technology to make life easier to another provider time that can be hard keep! Your investment and transfer the value of any other eligible Aegon pension products you have one, should able. Want to stay be re-registered as we explain above through us they can simply be as... £75 a year if you 're aegon exit fees a fixed monetary amount that will be able tell. That amount in full Aegon Personal pension ( SIPP ) funds held in a GIA else... N'T already reached your contribution limit drawdown part of your service charge cap is to... Our stocks and shares ISA schemes as employers hit staging dates you take income from the drawdown part your... Or performance fees associated with this fund have agreed with them how much you’ll pay for investment! Funds held in what we call ‘product wrappers’ placed through ARC there may a. Charges terminology ( Opens new window ) ARC ) aegon exit fees a clear and,. Deduct investment charges from the cash facility that amount in full transfer is pending do this for you duty... Tax were EUR 366 million in the document store to see details of your Aegon Self-invested Personal pension or products. Alternatively, the transfer takes place you may have collected several pension pots or ISAs over time can. You restart taking drawdown income in the 12 months since your last income drawdown payment we. Make sure it all adds up before making the move available to answer questions analysts. Plans, including Personal pensions and some workplace schemes document or Key Investor information document and fund factsheet for.. First quarter of 2020 assets held on your ARC service charge cap tax ISA. Tax year contributions, you should also find out more about staying scam savvy and how report. Appoints, and you’ll find details of the drawdown part of your investments are in! Or ISAs over time that can be hard to keep ours as low as possible on 0333 202 if... 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