Aegon UK is increasing charges on certain insured funds by up to 15 basis points on its Aegon Retirement Choices platform and its One Retirement proposition.
With effect from mid-December, the charges are increasing by between 0.05 per cent and 0.15 per cent on 82 of the 302 insured funds available on ARC, affecting around 27 per cent of the platform’s £1bn assets.
The changes mean Aegon’s passive range of funds will increase from 5bps to 10bps, while the cost of Passive Volatility targeted funds will increase from between 10bps and 15bps to between 20bps and 25bps.
Charges on Aegon’s Active Volatility targeted funds will increase from between 65bps and 75bps to between 75bps and 85bps, and charges on the Select Sector Portfolios will increase from between 75bps and 80bps to between 75bps and 90bps.
Aegon says these changes keep the costs of its insured funds within the most competitive quartile of the market while charges on Aegon’s Heritage and Unisure products will remain as they are.
Aegon UK investment director Nick Dixon says: “After these changes, the funds and platform cost remains very competitive. Our platform continues to offer leading value in the market.”