Aegon launches post-Pension Wise guidance offering

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Aegon has launched a new guidance offering designed for customers who have already used the Government’s Pension Wise service.

Aegon Assist, which is being trialled with a team of three staff, is targeted at customers who don’t have a financial adviser, and want more information about Aegon products.

The service is open to customers at any life stage, but primarily intended for those who have used the Government service already.

Research by the insurer found only 14 per cent of people are confident about planning their retirement, while just 20 per cent are comfortable deciding how to access their pension.

The launch comes after providers warned a lack of clarity around the boundaries between advice and guidance was hampering innovation.

Aegon UK managing director Mark Till says: “The new retirement landscape is still taking shape and people are being asked to make decisions regarding options that didn’t exist just months ago.

“At the same time we’re in a situation whereby many people are unwilling to pay for financial advice. While we’ll continue to recommend seeking advice and signposting to Pension Wise, we see Aegon Assist as an important additional option for customers to get the information they need to make the right decision.”