Aegon is to simplify the charging structures for the One Retirement SIPP and the Aegon Retirement Choices (ARC) wrap, benefiting clients with larger asset pots.
The life company is also reducing the minimum investment for drawdown for ARC and One Retirement from £50,000 to £20,000, as a consequence of the reforms announced by Chancellor George Osborne in last month's Budget. From 3 May, new and existing customers will no longer be subject to a product charge or platform fee on holdings of £250,000 or more on both propositions, effectively capping the charges at £750 on One Retirement and £1,215 on ARC. Investors with smaller pension pots will also benefit from the new charging structure. Those with less than £250,000 will be charged a single ...
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