Investing for the future
As you move through a multi-stage life, flexibility is key - Aegon Financial Planning is here to help, with a choice of carefully selected products.
Aegon Financial Planning offer the Aegon Stocks and Shares ISA, a tax-efficient way to save for the medium to long term, as well as the Aegon General Investment Account (GIA) which could be an option if you've used up your ISA allowance. Aegon Financial Planning also offer a Self-Invested Personal Pension (SIPP), an option for retirement savings.
Each product has different tax rules and allowances, but your Financial Planning Manager will talk you through which options are best for your circumstances.
The Aegon Stocks and Shares ISA is a tax-efficient way to save for the medium to longer term.
Features
- It’s a tax-efficient way to invest, free of any personal liability to capital gains tax and income tax.
- This years ISA allowance is £20,000 - you can make the most of this year’s tax-efficient opportunities by taking out an Aegon Stocks and Shares ISA before 5 April.
- You can access a wide range of investment options.
- You have the flexibility to change your investments as your needs change – so you can use your ISA to try to grow your savings or take an income.
Things to think about
- It’s important to remember that unlike money in the bank, investing in stocks and shares puts your money at risk. The value of your investment can fall as well as rise, and you could get back less than you invest.
- Although the Aegon Stocks and Shares ISA has no fixed term, you should be prepared to hold your investment for at least five years, ideally longer.
- The favourable tax treatment of ISAs may not be maintained and is subject to change. The value of any tax benefits will depend on individual circumstances.
Historically, investing in stocks and shares has provided the potential for greater returns over the long term (more than five years) than keeping your money in the bank – although of course, past performance isn’t a reliable guide to what will happen in the future.
To find out more about the Aegon Stocks and Shares ISA book an appointment with a Financial Planning Manager.
The Aegon GIA is a flexible savings option, giving you the freedom to invest in a wide range of investments. It's worth considering if you've used up your ISA allowance and don’t want to lock your money away in a pension.
Features
- You'll have access to a range of different investment opportunities and can invest a regular monthly amount, a lump sum – or both.
- There's no limit to how much you can invest and you can top up your GIA at any time.
- You have the flexibility to make regular withdrawals from the GIA.
- You can transfer funds held elsewhere to us. If the funds you hold elsewhere are available on our platform, your funds can simply be re-registered with us, meaning you don’t need to sell your funds held elsewhere and move them over to us. This means your funds aren’t out of the market.
Things to think about
- There’s no limit on how much you can pay into this account, but any investment return may be taxed.
- Although there’s no fixed term, you should consider this a medium to long-term investment. You should be prepared to hold the investment for at least five years - ideally longer.
- On transferring, any new funds you move your money into will have their own set of risks that will be detailed in the fund information that will be available to you.
- The value of your GIA can fall as well as rise and you could get back less than you invest.
To find out more about the Aegon General Investment Account book an appointment with a Financial Planning Manager.
A self-invested personal pension (SIPP) is a type of personal pension plan that offers greater flexibility and control over your retirement savings.
Features
- Personal contributions to a SIPP are eligible for tax relief. For example, for every £80 you pay, tax relief boosts the amount invested to £100. Higher rate taxpayers can claim additional relief through a self-assessment tax return.
- Your Aegon Financial Planning Manager will recommend an appropriate investment strategy to meet your personal circumstances and need.
- Most defined contribution pensions can be transferred into a SIPP, making it easier to manage your retirement savings.
- From age 55 (rising to 57 on 6 April 2028), you can start withdrawing from your SIPP. Up to 25% of your fund can be taken as a tax-free lump sum.
Things to think about
- The value of an investment can fall as well as rise and isn’t guaranteed. The value of your SIPP when you come to take benefits may be less than has been paid in.
- Personal contributions paid before age 75 generally receive tax relief, determined by a number of factors. These include the level of your earnings and an annual allowance set by HM Revenue and Customs (HMRC) which is currently £60,000 (it could be higher, depending on your personal circumstances).
- A SIPP may have higher charges than a standard personal pension. You should monitor your investments with your Aegon Financial Planning Manager to maximise the benefits of the investment choice on offer. A SIPP won’t be suitable for everybody.
- Transfers from defined benefit pension schemes are only allowed following financial advice. Aegon Financial Planning doesn't provide advice on these types of transfer.
The value of any tax relief will depend on individual circumstances, which may change. The tax information provided is based on our understanding of current tax law and HMRC practice - which may change.
To find out more about the Aegon SIPP book an appointment with a Financial Planning Manager.
Online services and support provided by Aegon
- You'll get quarterly statements on your investment's performance
- You can keep an eye on your investments online and make any changes by logging in to your Customer Dashboard.
- The Customer Dashboard is fully responsive to suit your needs - available through your mobile, tablet, or desktop.
