AEGON UK has achieved another important distribution partnership having been appointed as the provider of deferred SIPPs and income drawdown products for Clydesdale Bank and Yorkshire Bank.

The partnership between AEGON UK and Clydesdale and Yorkshire Banks allows financial planners at the bank to sell AEGON UKs Flexible Pension Plan and Retirement Control plan to private banking customers. The bank’s customers will have access to 9 funds run by MLC one of the world’s leading manager of managers – and 30 AEGON UK internal insured funds.

AEGON UK Director of Partnerships and Distribution Development Peter Dornan says: “Achieving this significant distribution partnership with Clydesdale and Yorkshire banks underlines AEGON’s credentials as a leading player in the UK retirement market. The move will enable us to reach a broader customer base which is in line with our strategic objective of increasing market share.”

Martin Smith Head of Wealth Management at Clydesdale Bank adds: “We believe it is important to offer our customers access to quality pensions planning. By partnering with AEGON we have selected a company that will deliver a combination of industry-leading experience and an award-winning proposition”.

About AEGON

• The Flexible Pension Plan is a deferred SIPP (Self Invested Personal Pension) which is a pension plan that enables the customer to begin saving into a standard pension plan and then move seamlessly into a SIPP structure as and when they choose. Extra SIPP changes are not applicable to FPP plan holders until they start using SIPP facilities.
• AEGON UK has assets under administration of £52.3 billion and employs around 4,500 staff. AEGON UK is part of the AEGON group, which is one of the world’s largest listed insurers and has assets under management of £245 billion.

For further information

Mark Locke
PR Manager Personal Finance
T. 0131 549 3766 | M. : 07740 897 986
mark.locke@aegon.co.uk