Please contact us to change any details which are incorrect. Select the Customer services link under the Help and Support tab at the top right of the page to get in touch.

To change your email address firstly Sign in. Then go to Profile, select Security & Notifications, then Change email address to start the process of updating your details.

To update your name, address or contact details, please fill in this form. Please remember to include any supporting information required.

Change of customer details (pdf)

Sign in and select Profile in the top right corner of the screen and select the Security and Notifications tab. From here, you'll have the option to change your contact preferences under the Marketing communications section.

You'll find these in each of the individual product dashboards. Simply choose the name of one of your product you want to view details on (e.g. Stocks and Shares ISA) and select the Documents tab. From here, you will be able to download the documents connected with your account.

If you need to tell us about the death of a planholder, we’ll need you to firstly confirm your full name, contact number and address for correspondence. We'll then need you to confirm the planholder’s account, their full name, date of birth and address. We'll also need a certified original death certificate. Please contact us so we can help.

Your customer number is used to verify your identity/account. If you've forgotten your customer number you can view this in the Your details section of your Profile.

This means your main permanent residential address has to be within the United Kingdom.

You can find a financial adviser near you by using the free and impartial government sponsored MoneyHelper

To add a new bank account in your customer dashboard, select Bank details from your Profile and then Add a bank account to begin the process. 

Some online transactions will also allow you to add bank account details.

You can make changes by contacting us. Before making any changes to your policy, we recommend that you speak to a financial adviser. 

Copies of documents can be certified by one of the following people, who may charge for this service -  we accept:

Setting a document preference lets us know whether you'd like to receive your documents Online or by Post. 

If you have online access, signing in to your Customer Dashboard is the quickest and easiest way to update your document preferences and opt into digital documents.  

To change your document preferences, simply sign in, go to your Profile, select Security and notifications, and select Document preferences.

Choosing to go online means we'll reduce the amount of paper we issue. You don't have to worry about missing a document as you'll start to receive an email each time a new document is available to view. 

Your guide to paperless documents (pdf)

Where possible, we'll apply your document preference to all document types and to all products you hold with us including any future products you may take out. We may still send some documents by post where an online version isn't currently available.

The same email can’t be used for more than one customer account. You can have multiple products within a single account if they’re registered to the same name. 

You’ll only be able to see a joint account online if you’re the primary investor. 

You may not have transactional access. We can offer online access to your account but, if you have an adviser, you'll need to speak to them first. If you don’t have an adviser and are comfortable managing your own investments, you can contact us by web chat.

Our guides will give you a full overview of what you can do on the platform with different levels of access. 

Client guide to Aegon Platform – view and transact (pdf)

Client guide to Aegon Platform – view only (pdf)

You should always use your personal email address on your account. For security reasons, you should not use your work email. This will also enable us to remain in contact regardless of your employment status. 

Our email system and the way we deal with data internally is secure. However, we’re unable to ensure the security of emails before they reach us so please consider this and do not include any personally sensitive, financial or banking information that has not been appropriately secured. 

If you have access to our online services, you may be able to log in and complete your action securely.

Beware of ‘phishing scams’ - if you ever receive an email from someone you don’t know, be careful not to click on any links or attachments, as they may install harmful software on your device.

We will never ask you to tell us your confidential passwords.

Our Staying Safe guide provides more information.

To set up an online account with us, you first of all have to activate your account. If you, or your financial adviser on your behalf, request an online account we’ll send you an email with an account activation code to your registered email address. To complete the activation, you’ll need to follow the steps and enter your activation code.

To access your products on the Aegon dashboard, you'll need to activate/upgrade your account. You’re required to keep your details on your customer dashboard up to date so your product details are kept secure. You only need to activate your account once.

For new customers

If you've recently purchased a product from us and haven't completed your account activation, please check your email inbox for an activation email from us. If you’ve been given an activation code you can go ahead and setup your online access. Remember to check your spam folder if you haven’t received an email from us.

For previous Cofunds customers

1. If your financial adviser had a Cofunds microsite, go to their original site and you'll be automatically redirected.
   
   Once you've followed the Update your details instructions, you'll receive email verification with an invitation to sign into your adviser’s site on the Aegon dashboard.
   
   
2. If you signed in directly at cofunds.co.uk, please go to customerdashboard.aegon.co.uk 
   
   Once you've followed the Update your details instructions, you'll receive email verification with an invitation to sign in to your adviser’s site on the Aegon dashboard.

For IPS customers

In all cases, once you have successfully signed in, remember to bookmark this page for the next time you wish to access your account.

If you can’t find or haven't received your account verification email from us, please check your email junk folder. If you don’t have a verification email from us, please request a new one. You'll receive an email with an activation code and instructions on what to do next within 48 hours.

For more help, please read our activation guide.

How do I activate my Aegon Dashboard account (pdf)

If you haven't received your account verification email, please check your email junk folder, otherwise please contact us.

If you don't currently have access and would like to manage your account online, you can request online access to your account. If you have an adviser, you'll need to speak to them first.

Request an activation code

You'll receive an email with an activation code and instructions on what to do next within 48 hours.

For more help, please read our activation guide.

How do I activate my Aegon Dashboard account (pdf)

You can reset/change your password by signing in to your account . Any other security details can't be changed online at present, instead, simply sign in and select the Help and Support tab and choose Customer Services from the drop down menu to get in touch with us so we can help.

Beware of ‘phishing scams’ - if you ever receive an email from someone you don’t know, be careful not to click on any links or attachments, as they may install harmful software on your device.

We will not send emails asking you to re-confirm your password or your personal information for ‘security purposes’. Our Staying Safe guide provides more information.

If you want to update your password, simply select the Forgotten your password option at the bottom of the sign-in screen to reset it. You'll need your 6-digit pin code to complete this.

If you believe or know that the security of your account username and/or password has been compromised, you must contact us immediately.

You should also change your account password as soon as possible. Sign out of your account and select the link to Need help signing in? then choose the I've upgraded my account and forgotten my password link. Follow the instructions to change your password immediately.

Don't worry. Your user name is normally your email address. However, if you're still having problems after keying in your email address, please contact us.

You have the right to request a copy of the personal information we hold on you.  When you request this information, this is known as making a Subject Access Request (SAR). In most cases, this will be free of charge. In some circumstances, for example, repeated requests for further copies, we may apply an administration fee. To exercise this right, please write to the Data Protection Officer, Aegon, Edinburgh Park, Lochside Crescent, Edinburgh, EH12 9SE or email dataprotection@aegon.co.uk

Our email system and the way we deal with data internally is secure. However, we're unable to ensure the security of emails before they reach us so please consider this and do not include any personally sensitive, financial or banking information that has not been appropriately secured. 

If you have access to our online services, you may be able to log in and complete your action securely.

We're committed to protecting and respecting your privacy and information. 

Take a look at our privacy policy to find out more. 

This policy explains:

• Why we need your information
• What we do with it
• Who we might share it with
• How you can exercise your rights.

We use multiple banks to hold your money. We may spread any money we hold on your behalf across those banks to help reduce the risk to your money if any one bank has financial difficulties.

The banks we currently use are:

• Lloyds Bank Plc
• HSBC Bank Plc
• RBS

Yes, this could. We always try to design our websites and online systems to take advantage of all the features that modern web browsers provide. This could also affect your experience when using our website or online systems. We aim to support older versions of browsers but updating to the most up to date version will give you the best experience.

If you don't use the latest version of your web browser, there is a chance you're missing out on some of the functionality and security features the latest browser has to offer.

If you have a question about a policy or product, or want to get in touch, we're here to help. You can find out more about how to get in touch with us on our Support and contact page.

If you’re an Aegon Platform customer, you can write to us at Aegon Cofunds Administration, Sunderland, SR43 4DN.

We hope you never have cause to complain, but if you do, please contact us by using the details on the How to make a complaint page. 

Contact ReAssure for all queries relating to your ReAssure Portfolio Plus SIPP and ReAssure Portfolio Plus Pension, including cheques for any additional contributions.

You can find their contact details on the ReAssure website.

No - you need to provide your National Insurance number during the application process.

You can see your remaining ISA allowance on the ISA product page under the Overview tab and as part of the Manage regular contributions transaction.

The remaining allowance takes into account any money that you've already contributed and the value of any scheduled payments you've already set up for the current tax year. This doesn't take into account ISAs you may hold elsewhere.

The cash facility lets you hold cash in your ISA. This money can be used to invest into funds, to pay charges or can be withdrawn.

If you don't want to pay your ongoing charges from your ISA, you may be able to re-direct and pay them from your GIA cash facility. We'll automatically set up a GIA for you when you buy an Aegon ISA.

Returns from an ISA are free from any personal liability to income tax and capital gains tax. You also don’t have to disclose them on a tax return.

This information is based on our understanding of current, taxation law and HM Revenue & Customs (HMRC) practice. The value of any tax benefits will depend on individual circumstances. The favourable tax treatment of ISAs may not be maintained in the future.

Yes. You have 30 days to cancel opening an ISA starting from the day you receive the documents with your contract details. If you cancel within this period, the payment won’t count towards your ISA allowance. However, if you cancel after the 30-day period has expired, the payment will count towards your ISA allowance.

For full information regarding your cancellation rights, please see the Key Features document.

Our transfer guide will help you with this.

Speak to your financial adviser if you have one, or contact us.

No. We can only accept payments from you if you're:

• resident and ordinarily resident in the UK (for further information see the gov website), or 
• a Crown employee serving overseas and paid out of public revenue of the UK (for example, a member of the armed forces, or a diplomat), or
• married to, or in a registered civil partnership with someone performing duties as a Crown employee serving overseas and paid out of public revenue of the UK.

To close your Aegon ISA, you can either ask your financial adviser to do it for you or, do it yourself if you have transactional access to your account on the online Customer Dashboard. Your financial adviser can arrange online account access if you don't already have it. If you don’t have a financial adviser and are comfortable managing your own investments, you can sign in to manage your account.

Simply sign in and select the Profile tab and choose Customer services from the drop down menu to get in touch with us so we can help.

We need to work with your current provider to make the transfer, this can sometimes take a little longer to process than most other transactions.

If you have a transfer in progress, please contact us to find out its current position.

Your financial adviser can arrange online account access if you don't already have it. If you don’t have a financial adviser and are comfortable managing your own investments, you can sign in to manage your account.

Yes, you can do this using your Aegon dashboard. Go to the GIA product page and select More options, then Transfer money from GIA to ISA and follow the instructions on screen. 

If you don’t already have an ISA, then one will be set up as part of this process.

We don't provide advice or personal recommendations and you should be comfortable with the decisions you're making. If you're unsure, you should seek financial advice or guidance - there may be a charge for this.

Your financial adviser can arrange online account access if you don't already have it. If you don’t have a financial adviser and are comfortable managing your own investments, you can sign in to manage your account.

Yes, if you have transactional access to your account on the online Customer Dashboard. If you don't have a financial adviser and are comfortable managing your own investments, you can sign in to manage your account. 

In order to make a one-off withdrawal, go to the ISA or GIA product page on the Customer Dashboard and select More options, then One-off withdrawal and follow the instructions on screen. 

No, we only accept one-off payments by bank transfer, debit card or cheque. You can only make regular payments by Direct Debit.

No, we can only accept regular payments by Direct Debit. You can make one-off payments by bank transfer.

To do this, sign in to your account to view your investments. Select View and Manage for the ISA you wish to bring up to date. Select Top up. Follow the instructions to make a one-off payment by debit card, bank transfer and cheque.

If you have a joint bank account, you must be able to give authorisation on your own to make payments.

To do this select the product you want to view the charges on and select the Transactions tab. From here, you'll be able to view the charges taken from your account.

No - it won't cost you anything to switch funds.

The rate of interest is paid at a gross rate based on the Bank of England base rate. You can find the current rate we pay here. For more information on your cash facility please read our Guide to ISA.

The ISA annual allowance for the current tax year is £20,000. You can choose to use your whole ISA allowance for your Aegon Stocks and Shares ISA or you can split your ISA allowance across different types of ISA and ISA providers in accordance with the regulations. You mustn't contribute more than £20,000 across any permitted combination of ISAs in the same tax year and it's your responsibility to make sure that you don't exceed the annual ISA allowance.  

As your Aegon ISA is a flexible ISA, you can also replace any eligible ISA withdrawals that you haven’t repaid yet.  

The amount you can still invest includes any unused ISA allowance from this tax year (starting from 6 April) and any eligible ISA withdrawals that you haven’t repaid yet. This assumes you haven’t made any payments or repayments into any other ISAs in this tax year and doesn’t take account of any planned future regular payments or withdrawals (if applicable).

We don’t currently offer a lifetime, cash or an innovative finance ISA.

The maximum annual ISA allowance is £20,000 for the 2025/26 tax year.

Your Aegon ISA is a flexible ISA. This means that money withdrawn from your ISA and paid to you can be replaced within the same tax year, without the replacement counting towards your annual ISA allowance. This includes money paid to you as consolidated natural income (where you've asked us to pay out income generated by your investments to your nominated bank account on a monthly basis in accordance with the terms and conditions).

You can't replace any money that's removed from the ISA but not paid to you (for example, to pay fees or charges) or anything that isn't paid out as cash (for example, by re-registration of shares).  You also can't replace money if your product is closed.

You can withdraw money contributed and income earned in the current tax year and previous tax years.

• Withdrawals will count against any contributions in the current year first.  
• Any additional amount is treated as a withdrawal of a contribution from a previous tax year. 
• If money is replaced (must be in the same tax year as the withdrawal), any withdrawn subscriptions from a previous year are repaid first, followed by withdrawn subscriptions from the current year.

We don’t currently offer online access for Junior Individual Savings Accounts (JISAs).  

The maximum amount that can be paid into a Junior ISA for the current tax year is £9,000.

Speak to your financial adviser if you have one, or contact us.

If you have a financial adviser, you should organise a transfer through them.

Unfortunately, you can't transfer an existing Junior ISA at present if you don’t have a financial adviser.

We set up a General Investment Account (GIA) as an option to allow you to use the cash facility to pay any charges from, and invest into funds. There’s no charge for this until you decide to use it. Find out more in our Guide to paying your charges through our GIA and our Guide to GIAs.

There is no restriction on what you can pay into a GIA.

Unlike an ISA or pension, there are no tax benefits for investing in a GIA. You pay income tax on any income you receive from the GIA, and capital gains tax on any realised gain you make on your GIA.  The tax paid will depend on your personal tax situation, and may be subject to change in the future.

The cash facility allows you to hold money in your GIA. This money can be used to invest into funds, to pay charges or paid out to your bank account.

If you have another product on the Customer Dashboard within the same service profile, for example an Aegon ISA, you can elect to re-direct and pay your ongoing ISA charges from the cash facility within your GIA, rather than pay them from your tax-efficient ISA product.

Our transfer guide will help you with this.

Speak to your financial adviser, if you have one, or sign in to your online account and choose the relevant product. Then, if you have access, select Switch funds and follow the instructions.

Switching funds will not affect the investment of any regular contributions you may be paying. To change the investment strategy of regular payments, please get in touch with us using the Help and Support drop down menu.

The rate of interest is paid at a gross rate based on the Bank of England base rate. You can find the current rate we pay here. For more information on your cash facility please read ourr Guide to GIA.

Your financial adviser can arrange online account access if you don't already have it. If you don’t have a financial adviser and are comfortable managing your own investments, you can sign in to manage your account.

Yes, on a product page, select More options and then Convert fund distribution type.

We don't provide advice or personal recommendations and you should be comfortable with the decisions you're making. If you're unsure, you should speak to a financial adviser – there may be a charge for this.

Dividend payments and interest from your funds can be distributed to you as income, held as cash or reinvested back into the fund itself. You can do this in the Aegon dashboard by going to a product page, selecting More options and then Manage income from funds.

We’ll ask you what you want us to do with any income generated if you choose one or more income funds.

You have three options:

1. Transfer income into your bank account so that it’s available for you to use day to day. Income is paid on or around day 12 of each month. The minimum income payment we'll make is £2.50. Anything below this will be held in your cash account until the amount is greater than £2.50. It will then be paid into your bank account on the next payment date.
2. Hold income as cash within your Aegon product so that you can choose what you want to do with it from there. The cash facility associated with your product is designed as a short-term holding place for use when transferring savings from one fund to another, and for paying any charges. It isn’t designed for long-term saving and inflation is likely to exceed returns. For more information, please visit our FAQ Find out more about the cash facility. 
3. Reinvest income back into the fund at the next valuation point. This option is more likely to be used by those who are investing for the long term and aren’t reliant on income payments to supplement living costs.

The income payment method you choose will apply to all funds held in that product. However, you can set up different payment methods for each product you hold.

Income generated may go down as well as up, in accordance with the dividend payments and/or interest received from the investments it holds.

Fund charges cover the cost of managing investments on an ongoing basis. They vary depending on the funds you choose and how they invest your money.

Fund charges are in addition to any product or adviser charges and include a fixed management fee plus expenses that vary with the day-to-day costs of running the fund. 

For regulated UCITs funds we show an ongoing charge figure (OCF), and for other fund types we show a total expense ratio (TER). Both include a fixed management fee plus expenses that vary with the day-to-day costs of running the fund. The OCF includes some one-off charges that aren't in the TER, but the two measures are otherwise very similar.

You can find more information about fees and charges in the product's relevant charges guides, available on our website.

Income generated from your funds, for example dividend payments or interest, can be reinvested for the future (accumulation type), or paid to you as income (income type).

If you choose an accumulation fund, the reinvested income will be added to your investment, so it may help to grow your savings over the long term.

If you choose an income fund, you may receive regular payments from your fund, which could be used to supplement living costs or provide an income in retirement. Find out how income is paid. 

Income generated from a fund may go down as well as up, in accordance with the dividend payments and/or interest received from the investments it holds.

There’s no guarantee that fund objectives will be met. The value of an investment can fall as well as rise and isn’t guaranteed. You could get back less than you invest.

Generally considered the least volatile of all the main investment types. This means its price doesn't tend to move much either up or down on a daily basis. The downside is that cash tends to have far less potential to grow than other investments and it can actually fall in value in real terms because of inflation. This is why it's most suited to investors as a shorter-term investment. Cash generally includes money, typically held in bank deposits, and other types of money market investments, which pay the investor regular interest.

They're instructions that we're processing and haven't been finalised. For example, switching units between funds during a fund switch or waiting for money after a withdrawal request.

If you're looking for information about an investment fund and the factsheet is missing, please get in touch with us so we can help. To do this, select the Help and Support tab and choose Customer Services from the drop down menu.

The earliest you can access your pension under current legislation is age 55 (increasing to age 57 on 6 April 2028). However, in some cases, you may be able to take them before age 55 if you’re suffering from ill-health or serious ill-health, or have a protected pension age relating to benefits built up before 5 April 2006.

Transferring a pension may not be the best option for you. You may lose features, protections, guarantees or other benefits - so make sure you compare products before transferring. It’s up to you to decide if this is the right decision for you. If you’re not sure, speak to a financial adviser - there may be a charge for this. The types of valuable features and benefits you may lose might include:

• protected tax-free cash
• protected pension age
• guarantees
• waiver of contribution
• life assurance benefits
• any self-investment option

You might incur higher charges so make sure that you’re satisfied any such charges are justified.

Any trusts or expression of wish you’ve already set up won’t transfer over to a new Aegon Pension.

There’s no guarantee that new investments you choose will perform better than investments under your current plan.

If you're unsure whether this is right for you, please seek advice or guidance - there may be a charge for this.

You can track down a lost pension by using the Government-backed pension tracing service.

The annual allowance is the maximum amount of pension savings an individual can have each year that benefit from tax relief. In practice, an individual is subject to a tax charge (the annual allowance charge) where their pension savings exceed their available annual allowance for a tax year.

There is nothing to stop an individual paying in more than their available annual allowance. An annual allowance charge would be payable on the excess and they would still be able to claim tax relief on all their personal and third party contributions up to the higher of 100% of an individual’s relevant UK earnings or £3,600 per annum. The annual allowance tax charge will probably cancel out most (if not all) tax relief if you exceed your annual allowance.

The current annual allowance limit is £60,000.

Unused annual allowance from the previous three tax years can be used in the current tax year once the current tax year's annual allowance has been used up. This is known as Carry Forward.

The value of any tax relief depends on your individual circumstances. This information is based on our understanding of current, taxation law and HM Revenue & Customs (HMRC) practice, which may change.

The tapered annual allowance for the current tax year is £50,000 and applies to higher earners. Individuals who have an adjusted income greater than £260,000 and whose threshold income is greater than £200,000 will see their annual allowance reduced. For every £2 of adjusted income over £260,000, their annual allowance will be reduced by £1, subject to a remaining annual allowance of not less than £10,000. In other words, anyone subject to the taper whose adjusted income is £360,000 and over will have an annual allowance of £10,000.

Adjusted income includes:

• Taxable income, pension income and interest on savings, most pension and savings interest income, plus any share, rental or trust income, less certain reliefs
• The value of employer pension contributions
• The amount of any excess tax relief on personal contributions to a net pay scheme
• The amount of any employee pension contributions deducted from pay in relation to a net pay scheme
• Certain relief claimed by non-domiciled individuals in relation to contributions to overseas pensions schemes, less the amount of certain lump sum death benefits.

Threshold income includes:

• Taxable income
• Any salary sacrificed in return for pension contributions on or after 9 July 2015, less
• The gross amount of any relief at source personal contributions and the amount of certain lump sum death benefits.

This information is based on our understanding of current taxation law and HMRC practice, which may change. The value of any tax relief depends on your individual circumstances.

If you've flexibly accessed your benefits, such as taken an uncrystallised funds pension lump sum (UFPLS) or taken income from a flexi-access drawdown fund, the Money Purchase Annual Allowance (MPAA) is the amount that can be paid in one year to your money purchase arrangements without a tax charge applying. For the current tax year, the MPAA is £10,000.

If the MPAA provisions apply to you, and during the year more than £10,000 has been paid to your money purchase arrangements under all of your registered pension schemes, a tax charge:

• will apply on the money purchase contributions above £10,000, and
• may apply on the value of any savings made to defined benefit arrangements that are higher than £50,000 plus any carry forward you have available.

Special rules apply in the year that the MPAA rules first applies to you. In that year, only money purchase contributions paid since the date that the MPAA first applies are tested against the MPAA. If:

• your money purchase contributions from the date the MPAA first applies to you until the end of that tax year are less than the MPAA for that year, the total of all of your pension savings are tested against the annual allowance for the year.
• your money purchase contributions from the date the MPAA first applies to you until the end of that tax year exceed the MPAA, your money purchase contributions prior to the MPAA applying to you, together with any defined benefit pension savings that are tested against the alternative annual allowance of £50,000.

Please speak to a financial adviser for more information.

The lump sum allowance is £268,275. 

This is the total amount you can take tax-free in your lifetime as: 

• Pension commencement lump sums (PCLS). 
• Stand-alone lump sums. 
• The tax-free element of any uncrystallised funds pension lump sums (UFPLS). 

This is the same amount as the previous limit of taking 25% of your maximum lifetime allowance for the 2023/2024 tax year. 

The lump sum and death benefit allowance is £1,073,100. This is the same amount as the previous lifetime allowance for the 2023/2024 tax year. 

This is the total amount of lump sums you can receive tax-free during your lifetime and your beneficiaries after your death. 

The following payments count towards your lump sum and death benefit allowance. 

• Pension commencement lump sums (PCLS). 
• Stand-alone lump sums. 
• The tax-free element of all uncrystallised funds pension lump sums (UFPLS). 
• Serious ill health lump sums.
• Lump sum death benefits. 

There are a number of factors that determine how death benefits from pensions are taxed:

If you die before taking benefits from your pension

Your pension pot can be paid to your beneficiaries as: 

There will normally be no inheritance tax to pay.

If you die after taking benefits from your pension

The tax that applies after taking benefits from your pension depends on the benefit option you're receiving and your age when you die.

Drawdown

Your remaining drawdown fund can be paid to your beneficiaries as:

There will normally be no inheritance tax to pay.

Annuity

Your beneficiary can receive:

The income payments will normally stop when you die if you don’t buy a joint-life annuity or a guaranteed annuity.

State Pension

You can find details of what happens to your State Pension when you die at www.gov.uk/state-pension/inheritance

Important

This information is based on our understanding of current taxation law and HMRC practice, which may change.

It’s important to review your own personal circumstances as exceptions to the above may apply in certain circumstances, and different plans and providers offer different product options.  Please speak to a financial adviser if you need further information. There may be a charge for this.

The rate of interest paid is based on the Bank of England base rate. You can find the current rate we pay here.

The maximum annual ISA allowance is £20,000 for the 2025/26 tax year.

Under capped drawdown there is a maximum amount you can take during a pension year. This income limit is 150% of the Government Actuary's Department (or GAD) relevant annuity with no guarantee. You can take any level of income you like from your capped drawdown fund up to this maximum limit.

The GAD sets out tables of the relevant annuity as an amount per £1,000 of capped drawdown fund based on age and gilt-yield rate for 15 year gilts. Gilts, also known as UK government bonds, are the main investments usually used by insurance companies which sell lifetime annuities. For example, if at the date of calculation:

• Your capped drawdown fund was £100,000
• You were age 65
• The 15 year gilt rate was 1.59% (which is rounded down to the nearest quarter, giving a rate of 1.50%)

The relevant annuity based on age 65 and a gilt yield of 1.50% is £50 per £1,000 of capped drawdown fund. So, the GAD limit would be calculated as £100,000 / £1,000 x £50 x 150% = £7,500.00 meaning the maximum income you could take each year is £7,500.00. Any income not used in a pension year isn’t carried over to the next pension year.

The maximum amount of income you can take applies for three years, unless certain events occur.  If you are over age 75 your income limit is re-calculated each year.

A small balance remaining after a full withdrawal or transfer may be due to income distributions that were due on your account.  If you have an adviser, they can request to withdraw residual balances for you. If you don’t have an adviser, please get in touch with us by phone to withdraw residual balances under £100.00. If your residual balance is over £1, this can be completed by signing in. 

For new payments or requests where bank details have changed, we may ask you to provide bank verification in the form of an original or certified copy of a bank statement so we can make sure that we’re making payment to the correct account. 

Any payments will be added to your account within two working days. To enable us to do this, please make sure that you complete an online Top Up journey as well as sending your cheque to us.

You can send us a cheque in the post. The details we require are as follows:

Amount – the amount you wish to pay into your account.

Payee – Cofunds Ltd.

Reference – please provide your plan number and surname on the back of the cheque so we can identify your account.

Please send the cheque to: Aegon Cofunds Administration, Sunderland, SR43 4DN

Once we receive your cheque and the funds clear, we'll credit your account.

You can make payment by bank transfer using the details provided during the online journey. It can take up to five business days for your payment to reach us.

Please contact us if you have any questions about where to send your payment.

You need to set up a bank account to open one of our products. This is usually an eight-digit account number and six-digit sort code. However, some banks and building societies have account numbers of different lengths – please use the following details to convert them into a different format, where necessary.

Our Order Execution Policy is available to be viewed and/or downloaded.

Banks are introducing additional security measures for debit card payments. If you’re making a debit card payment, you may need to verify the transaction. The verification is likely to be a code sent by SMS text message or online banking that will need to be entered during the online transaction to authorise payment.

Here’s some suggestions to try to minimise the chances of the bank asking for verification for specific providers:

• Add the provider (Aegon in this case) to the ‘safe list’ or select ‘don’t ask me again on this device’ at the time of making the first payment.
• You can add via your online banking account.
• You can call your bank or building society and ask for the provider (Aegon in this case) to be marked as safe.

There are exceptions to this such as the first time you submit a debit card payment from a device or location – how this is triggered is down to the each bank or building society’s rules, so it may vary.

You may find the following links useful to see how the different banks and building societies are operating strong customer authentication.

• Bank of Scotland
• Barclays
• First Direct
• HSBC
• Halifax
• Lloyds
• Nationwide
• Natwest
• Royal Bank of Scotland
• Santander

You’ll pay Aegon an annual charge for using the Aegon Platform. This charge covers the service and the administration involved in managing your IPS account.

Annual charge

The annual charge is tiered so it reduces as the value of the investments you hold in your account increases as follows:

We may vary these charges in future. If we do so, we'll let you know.

We calculate it using the value of your relevant products under your IPS account on the last business day of the month.

Here’s an example:

If you had an Aegon ISA valued at £15,000 and an Aegon GIA valued at £7,500 on the last working day of the month then your charge would be calculated as follows:

As you can see from above, the overall annual charge is calculated as £111.25 which is equivalent to 0.4944% of your total account value of £22,500.

The charge we’d deduct for the month would therefore be £111.25 divided by 12 = £9.27

As you have two products the £9.27 charge would be proportioned between the two products as follows:

• Aegon ISA charge = £15,000 multiplied by 0.4944% = £6.18
• Aegon GIA charge = £  7,500 multiplied by 0.4944% = £3.09

We’ll normally take the charge from any available cash you have in the cash facility of the product the charge was calculated on.

We’ll use any available cash you hold, and then sell down any balance required from the largest available valued investment under your product.

You can ask us to sell down from a specific investment by contacting us. We’d then only sell from the largest available valued investment if there wasn’t enough cash in the cash facility and your nominated investment to pay the charge.

If you don’t want charges to reduce the value of your Aegon ISA, you can request that those charges are directed to be taken from your Aegon GIA. If you choose this option it’s your responsibility to ensure there’s sufficient cash and/or investments held in your Aegon GIA to cover any charges due. You can request this by contacting us. If we have to sell investments in your Aegon GIA you may be subject to capital gains tax. 

If we’re unable to deduct a charge due on your Aegon ISA from your Aegon GIA because there isn’t enough available cash and/or investments to cover the charge, we’ll direct the charge back and deduct it from your Aegon ISA.