Accessing tax-efficient offshore bonds with Aegon Retirement Choices
We’ve expanded our partnerships with offshore bond providers to increase access to the range of off-platform providers available with Aegon Retirement Choices (ARC). Helping you maximise your overall wealth and investment proposition to meet the needs and objectives of your clients.
Benefits of using ARC's GIA
- Access investments that may not currently be available under the offshore bond.
- Investments can be traded through our online platform.
- The offshore bond can be accessed through ARC, providing you access to the investment strategies you currently have in place and your wider investment proposition.
You’ll see below the current available providers, and we’ll update this as and when new bonds become available.
Utmost PanEurope dac
Utmost PanEurope dac, trading as Utmost Wealth Solutions, provides insurance and savings solutions in the UK and International insurance markets. Our partnership with Utmost Wealth Solutions provides access to the following offshore bonds:
- Utmost Wealth Solutions Ireland
Canada Life International Limited
Canada Life International Limited, based in the Isle of Man and Ireland, offers a range of products and services for international customers. Our partnership with Canada Life International Limited currently provides access to the following offshore bonds:
- Canada Life International Isle of Man
How to apply for access to offshore bonds
We've pulled together the key steps to get started and submit business for offshore bonds. Take a look at the bond provider below for the relevant steps to follow. We recommend taking a look at this for support with submitting an application.
How to apply
We've outlined the steps to apply for access to Utmost Wealth Solutions for your clients and you can also read our questions and answers. At present we accept investment into the ARC GIA from new or existing Generation Planning Bonds and Selection Bonds.
| Steps | Process | Helpful hints |
|---|---|---|
| Complete Utmost Wealth Solutions bond application process | Before discussing your recommendation with your client(s), visit Utmost Wealth Solutions to obtain the relevant bond application forms and illustrations for your client. You can then complete these with your client and submit them to Utmost Wealth Solutions. | On the Utmost Wealth Solutions form make sure to reference the platform as Aegon Retirement Choices. |
| Utmost Wealth Solutions set up bond account | Utmost Wealth Solutions will create a new bond for your client(s). They will then complete the GIA application form to open an account on ARC for the bond investment. | Utmost Wealth Solutions will provide the account name as 'Utmost PanEurope dac - [bond number]' and they'll contact you if they need any further information. |
| Aegon confirm opened GIA account details | Our team will set up the GIA account to link the bond policy number and send an email confirming the opened account details to Utmost Wealth Solutions. Utmost Wealth Solutions will then make payment to Aegon. | Adviser access to the GIA is provided through your ARC platform login. |
How to apply
We've outlined the steps to apply for access to Canada Life International Limited Isle of Man for your client(s).
| Steps | Process | Helpful hints |
|---|---|---|
| Submit business and application forms | A) Discuss the arrangement with your client(s) and visit Canada Life International to complete their bond application form, obtain illustrations and submit the relevant forms on behalf of your client(s) to Canada Life International Limited Isle of Man. B) Complete our GIA application form.
|
A) On the form make sure to reference the platform as Aegon Retirement Choices. B) The account name should be entered as 'Canada Life International - [bond number]
|
| Canada Life International Limited set up bond account | Canada Life International Limited completes due diligence checks, creates a new policy for your client(s) and makes payment to Aegon sharing the bond policy number. | Canada Life International Limited will contact you if any further details are required. |
| Aegon confirm account open | Our team will set up the GIA account number to include the bond policy number and send an email confirming the account is open. | Adviser access to the GIA is provided through your ARC platform login. |
Supporting you along the way
Once you’ve read our How to apply processes, you may wish to speak to your usual Aegon contact – to check that we can accept the application from your client and to support you with any queries you may have.
Considerations
- Overseas clients – all bondholders must be habitually resident in the UK.
- Contracting parties – we’ll only accept applications from the offshore bond partner through the agreed process.
- Adviser charging – your existing agreement with the offshore bond providers will apply. The adviser charge is taken from the bond product and not the GIA.
The value of an investment can fall as well as rise and isn’t guaranteed. Your client could get back less than they invest. This information is based on our understanding of current legislation, which may change.