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as of 25/02/2021 at 11:49 am
A trusted name but a rather basic platform which lacks relevant and useful information – a need for better online info and signposting. Whilst they don’t offer advice, you can easily contact their Assist team for any questions when setting up your retirement account.
Beginner Investor
Big, trusted company
Simple pre-packaged options
Bland but safe
Don’t want to take our word for it? We ask existing customers and investors to rate their experience with the company – based on value for money, overall service and the website. We need at least 20 customer reviews before we add anyone to our Best Buys list.
Based on 26 reviews
Stocks and Shares ISA
Pension
Own brand funds
Robo advice / ready-made portfolios
Customers have told us Aegon’s online journey for drawdown can be quite slow and difficult to get set up. Most told us once the admin’s sorted the ongoing service is good with a great telephone helpdesk, but it can take up to 10 days to receive drawn money.
A straightforward solution from a big brand with a choice of five different solutions offered in a simple, engaging way. This simplicity is good news for those who don't want to spend hours researching investments, but sadly you can’t choose from a wide range of funds and can’t buy and sell individual company shares.
The focus of the site is primarily around pensions, but ISAs are also available. There are five Aegon Retiready solutions, which range in risk-levels and cost around 0.4%; bringing the total investment charge to roughly 0.9% a year all-in (so £9 on £1,000). For a passive solution, there are cheaper options around but it’s still OK-ish value.
The website is outdated and slightly confusing, lacking the easy navigation and eye-catching features of some of the more contemporary providers.
Aegon Retiready do not offer drawdown, however they are able to transfer the pension within the Aegon sphere to a department that does offer drawdown, who charge an annual £75 fee for this service.
All in all, this offering will suit people who want a relatively simple experience and value the security that comes from bigger brands. The investments which sit under the Aegon bonnet are provided by US giant BlackRock which runs over $6 trillion of assets.
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