Aegon Retirement Choices toolkit

(00:27) At Aegon, we are here to help you. To help you better understand the world of pensions, which we know can be confusing. To help you start and stay on track with your long term savings. To move beyond budgeting and help you prepare for your future. To work out what gives you purpose? What makes you happy. And to handle life's ups and downs.

(00:27) See what they mean for your savings goals. We do it with an award winning approach and demystify money lingo for you, showing you small steps to feel better about your money today that helps you understand your savings options and the impact of your investment decisions. We will show you more ways for you and your family to save, and we'll introduce you to Mylo.

(00:52) Our new digital guide will be by your side to help with all of life's big money moments, which is handy because there'll be more of those coming, because we're all living longer than we ever imagined, which is reimagining the way we work, retire. Live. We are here to support you over this longer new look life. But if we're all living longer,

(01:14) We all need a healthy future to live longer in. Which is why we are focusing on investing your money to help the world thrive. And the future is how we help you live your best life today and tomorrow.

As an Aegon Retirement Choices customer, you can access support material like core documents and guides to help you manage your savings.

We've organised this toolkit into sections to make it easier for you to navigate your way to a range of support material whatever stage of your retirement journey you're in.

Your events calendar

Make sure you don't miss out on all the upcoming events tailored to you and your pension. See what's coming up on your events calendar.

Contents

I'm new to the scheme
Using online services to manage my plan
Help me understand my retirement savings
Investment options explained
My retirement options

I'm new to the scheme

00:00:00 - 00:34:07

So let's talk about the benefits of your workplace pension. Honestly, it's not that boring. It's actually quite simple. It's your employer or trustee that does the legwork as well as contributing some money. And it's all for you. Often it comes straight from your salary so you don't even notice. Essentially, it's extra money. Here's an example. You put in 40 pounds your employer puts and 30 pounds tax relief on your contribution.

00:34:07 - 00:53:03

Adds another 10 pounds. Thank you. So that comes to a total of 80 pounds doubling what you put in. The earlier you save, the larger your savings could be, because your investments could have more time to potentially grow.

00:53:05 - 01:15:15

No, it's never too late to start. Unless you've retired, that is. Retirement may seem a long way off. But trust me, it's never too early to start saving. Getting started early will give you the best chance of having the lifestyle you want. After all, the finer things in life don't have an age limit. Let's not forget about people still in work.

01:15:17 - 01:37:06

Like me, for example. Let's see what I already have in mine. See if I want to add some extra to it. It's simple. I can just check online. It's easy to see what you've got using the online tools to make sure you're on track. It just so happens I'm happy with mine. I know what you're thinking. It's complicated getting started right?

01:37:08 - 02:01:00

Wrong. Saving into your workplace pension is simple. Support is available online through webchat or a quick phone call away for free guidance. Sure, you can opt out but that means losing out on your employer contributions so you can wave goodbye to that extra money. It's hassle free, so all that admin you may fear,

02:01:02 - 02:25:22

It's all done for you. All you need to do is agree to remain part of the scheme. So it's really not complicated, not confusing and certainly not something you should be putting off till a later date. Oh, hey. Oh, and one last thing. Remember, it's your pension, which means you own it. So you can choose how much you wish to put in, the investment funds and the retirement options when you come to retire.

02:25:24 - 02:29:16

A bit like Harry over there.

02:29:18 - 02:50:11

Each to their own. Oh, and don't be worrying about what to do next. Aegon will be in touch to guide you the rest of the way. But in the meantime, if you do have any questions, just speak to HR. See, I told you it wouldn't be boring.

Making the most of your workplace savings

You'll find some simple steps to take and lots of tips to get on track or stay on track for the retirement you've set your sights on.

Aegon Retirement Choices (ARC) key information document For customers - this document gives you information about the Aegon Retirement Choices product.

Nomination of beneficiaries form For customers - use this form to tell us how you'd like benefits to be paid on your death if you've got an Aegon Retirement Choices Self-invested Personal Pension, One Retirement account or a Retiready pension.

Aegon Retirement Choices Terms and conditions For customers - this document explains our current terms and conditions for this product.

Opt-out notification form For customers - complete this form if you want to opt out of your pension saving.

If you want to opt out of pension saving, please complete this form and return it to your employer within the timescales advised by them. If you don’t meet these timescales, you’ll be an active member of the scheme and contributions to your pension will start. If this happens then any contributions made can’t be refunded.

Additional resources

What charges are applied?

Workplace Retiready homepage

Using online services to manage my plan

Retiready can show you how ready you are for retirement with providing you a score out of a hundred.

00:00:00 - 00:36:10

Using Retiready in the workplace and our range of online tools, you can discover how ready you are for life after work. Your online dashboard will highlight your key information, and you can even add details of other savings held elsewhere to give you a complete view in one place. By answering a few simple questions, you can find out your Retiready score, which will help you understand how ready you are for the future,

00:36:12 - 00:58:18

and if you're on track for what you expect your savings to look like. If there's a gap, Retiready can help you take steps to get you on the right path. Your profile page lets you see your personal and retirement details. Here you can check your important information is correct, for example making sure your beneficiaries are up to date.

00:58:20 - 01:25:17

You can see every transaction, how your funds are performing and view documents in your own Documents Store. Whatever your savings goals, we give you access to a range of different investment opportunities. Did you know you also have access to our stocks and shares ISA? This allows you to save money in a tax efficient way. You can invest a regular monthly amount, a lump sum or both.

01:25:19 - 02:00:08

The choice is yours. Have you considered combining other savings pots? This lets you take control, reduce your paperwork, and potentially lower existing multiple charges. It's important to remember combining a pension may not be the best option for you, and it's up to you to decide if this is the right decision. Remember, we're here to support you. You can find answers to your questions in our Frequently Asked Questions, and when you need to, you can send us a secure email or speak to us online.

02:00:10 - 02:28:10

Retiready, making your future planning simple.

Watch this short video to see some of the features available on the our mobile app.

00:03:06 - 00:04:04

Not everything in life

00:04:04 - 00:05:14

needs to be complicated...

00:06:08 - 00:07:07

especially when it comes

00:07:07 - 00:09:10

to managing your financial future.

00:10:13 - 00:11:23

The Aegon app helps

00:11:23 - 00:13:09

you manage your investments

00:13:09 - 00:15:13

and pension with ease.

00:15:20 - 00:18:15

One touch and you're in.

00:18:15 - 00:19:22

Checking your balance,

00:21:11 - 00:23:02

managing your investments,

00:24:07 - 00:25:14

or seeing your pension

00:25:14 - 00:27:08

has never been simpler.

00:28:15 - 00:30:02

That means you can spend less time

00:30:02 - 00:32:02

focusing on your finances

00:32:02 - 00:33:24

and more time doing what you want

00:33:24 - 00:35:13

when you want.

00:36:06 - 00:38:05

It's that simple.

00:38:05 - 00:39:20

So what are you waiting for?

00:40:15 - 00:42:10

Take control of your finances

00:42:10 - 00:43:15

with the Aegon app.

Download the app

You can download and register for our app 24 hours after you activate your online account. You’ll be able to view the value of your account, your transactions and a breakdown of your investments.

Google Play Store

Apple App Store

Apple® and App Store® are trademarks of Apple Inc.

Google Play and the Google Play logo are trademarks of Google LLC

Activating your Retiready account video

Your retirement readiness score video

Managing your retirement savings has never been easier flyer This leaflet provides information on how you can manage your savings using the Retiready online service and the Aegon app.

Additional resources

Activate your workplace Retiready account

Help me understand my retirement savings

All types of pension could play a part in your retirement. Whether you're enrolled in a workplace pension or a personal one, we'll help explain what they are and how you might be paying into them.

00:00:00 - 00:24:16

When you're younger, it can be tempting to put off saving for the future. Day to day life tends to get in the way, and there's so many other exciting things to think about. Like traveling. Buying a house or buying a car. But the truth is starting to save as early as possible, even just small, regular amounts could make a big difference to how much you'll get back in the future.

00:24:18 - 01:02:20

By starting early, you'll be saving for longer. And so giving your savings more time to grow. One of the benefits of investing in a pension is compound interest, which means any returns you make can themselves make returns. So your savings have the potential to grow even further. For example, if you were to start saving into a workplace pension monthly from age 25 and you put away 5% of your £30,000 annual salary with your employer also contributing 3% monthly, you could potentially end up with a pot of £171,000.

01:02:22 - 01:33:04

But say you were to delay saving and waited another ten years until you were 35. If you were saving the same amount and assuming the same rate of growth, your potential pot would drop to £92,900. These figures are examples only they're not guaranteed and are based on calculations to help you understand your options using our Retirement Income Planner calculator. These examples assume a retirement age of 60 and an investment saving in the scheme default fund.

01:33:07 - 02:00:01

The retirement income calculated is dependent upon a number of factors. Although not a complete list, these factors include future contribution levels, the age you start taking benefits and external influences such as investment returns, inflation, interest rates, annuity rates and any fund and or product charges. Your actual investment growth may be higher or lower depending on the performance of the investment funds in your pension pot.

02:00:03 - 02:23:15

To find out more and calculate your retirement income options, access the calculator provided within your secure online account. Your actual investment growth may be higher or lower depending on the performance of the investment funds in your pension pot. And don't forget that inflation will reduce what you can buy in the future with the amount shown for guidance based on your own personal circumstances.

02:23:18 - 02:39:14

Look out for information in your annual statement or alternatively, you can speak to our Aegon assist team who provide a free guidance based service and can give you information to help you make the right decision for you.

Additional Support

Your pension in a few minutes

What's salary sacrifice?

Can I pay more into my workplace pension?

Nomination of beneficiaries

Additional resources

Members hub

Money tips

There are several ways that you could potentially save money by bringing all of your pots together.

(00:07) Is your pension collection getting a little unruly. With all the jobs you may have had throughout your adult life. Different pots of bound to tot up. So, combining them into one big pension can be a way to keep them under control. This will certainly make things much more manageable, but there are also reasons why merging your pots might not be the right thing to do.

(00:30) So, before you make any decisions, here's what you need to know. For starters investment, if one or more of your pensions is out of tune with your investment goals and your appetite for risk, it might make sense to move it.

(00:45) Some pensions may have more investment choices than others, so you may want to move into one that offers a better investment selection. Don't forget though, if you do move, the value of your pension, It can still fall as well as rise. And the value of your pension pot when you retire may be less than has been paid in any new investments will also have their own set of risks. So make sure you check these in the fund fact sheets.

(01:08) Next up, special guarantees. Your pension may have some special benefits, things like guaranteed annuity rates or a protected retirement age. If you move from a pot with any of these features, you'd lose them. And last but not least are charges. Every pension pot has a charge, usually a management charge, and these vary, so be sure to carefully compare these. Some companies may also charge an exit fee for moving. So if that's the case, you'll need to decide whether it's worth it.

(01:38) Sometimes you'll need some words of wisdom, which is where money helper comes in. They can provide you with free guidance, but for advice tailored to your own needs, you'll need to speak to a financial advisor. In some situations, getting advice is a legal requirement, like if you have a defined benefit pension, sometimes more fondly called a final salary pension. There's a bit more to moving this type of pension. And if the value is 30,000 pounds or more, you'd have to seek financial advice.

(02:09) Of course. Another product of moving jobs is finding your old pensions, who remembers the name or account number of their first pension. If you do remember some of these details, then contacting your old pension provider or old employer is a good place to start. If not, the pension tracing service is a free government service that lets you track down the golden oldies of your employment history. Taking stock of your pensions will be one tick on the life admin to-do list. And who knows, with over 26 billion pounds in unclaimed forgotten pension pots, you might even uncover a lost treasure.

Additional support

Why transfer your pension to Aegon?

How to bring your pension pots together?

How do I transfer into my workplace pension?

How do I transfer in any old pensions?

Additional resources

Combine your pensions

Help with tracing old pensions

Guidance from Aegon Assist

Find out more about our seven key areas of focus as we continue our sustainability journey.

Sustainability Matters

Making a positive impact is a key element of our strategy and is integral to our daily decision-making. We recognise that as a business we can, and want to, make a difference. Find out more about our commitment to making a positive impact.

Read our sustainability brochure

Additional support

Corporate sustainability

Our IGC makes sure we deliver value for money and holds us to account in placing your interests first. Giving you peace of mind.

Our Independent Governance Committee

Financial wellbeing is how you feel about the control you have over your financial future – and your relationship with money.

Financial wellbeing hub

Picture your best life tool

Cost of living hub

Money tips

Find out how to protect your retirement savings as well as some handy online security tips.

Pension scams

Online security and fraud protection

Pension scams – knowledge is empowering

Protect yourself from pension scams leaflet

As well as using your workplace pension you can invest in a stocks and shares individual savings account (ISA) and a general investment account (GIA).

How do I buy, transfer, and manage my Aegon ISA? Through your online service you can buy a stocks and shares ISA. An ISA gives you a flexible, tax-friendly way to save, and could put you firmly in control of your retirement planning.

ARC key information document Read our key information document for the Aegon SIPP, GIA and ISA on Aegon Retirement Choices.

Family price match Family price match means you can share the benefit of saving in tax-efficient way with those closest to you. Family members can now open an Aegon Stocks and Shares ISA at the same charge you currently benefit from.

We offer the workplace ARC ISA and GIA at your scheme price, and you may benefit from any potential charge cap.

Additional resources

MoneyHelper

Investment scams

ARC key information document

Investment options explained

A guide to what you should know about investing your money.