TargetPlan toolkit

Supporting you every step of the way through your retirement journey.

(00:27) At Aegon, we are here to help you. To help you better understand the world of pensions, which we know can be confusing. To help you start and stay on track with your long term savings. To move beyond budgeting and help you prepare for your future. To work out what gives you purpose? What makes you happy. And to handle life's ups and downs.

(00:27) See what they mean for your savings goals. We do it with an award winning approach and demystify money lingo for you, showing you small steps to feel better about your money today that helps you understand your savings options and the impact of your investment decisions. We will show you more ways for you and your family to save, and we'll introduce you to Mylo.

(00:52) Our new digital guide will be by your side to help with all of life's big money moments, which is handy because there'll be more of those coming, because we're all living longer than we ever imagined, which is reimagining the way we work, retire. Live. We are here to support you over this longer new look life. But if we're all living longer,

(01:14) We all need a healthy future to live longer in. Which is why we are focusing on investing your money to help the world thrive. And the future is how we help you live your best life today and tomorrow.

We've organised this toolkit into sections to make it easier for you to navigate your way to a range of support material whatever stage of your retirement journey you're in.

From time to time you may have variations of some of the documents that are specific to your employer's scheme. If you do, you'll find them in your online document store. Log in to TargetPlan.

Your events calendar

Make sure you don't miss out on all the upcoming events tailored to you and your pension. See what's coming up on your events calendar.

I'm new to the scheme

00:00:00 - 00:34:07

So let's talk about the benefits of your workplace pension. Honestly, it's not that boring. It's actually quite simple. It's your employer or trustee that does the legwork as well as contributing some money. And it's all for you. Often it comes straight from your salary so you don't even notice. Essentially, it's extra money. Here's an example. You put in 40 pounds your employer puts and 30 pounds tax relief on your contribution.

 

00:34:07 - 00:53:03

Adds another 10 pounds. Thank you. So that comes to a total of 80 pounds doubling what you put in. The earlier you save, the larger your savings could be, because your investments could have more time to potentially grow.

 

00:53:05 - 01:15:15

No, it's never too late to start. Unless you've retired, that is. Retirement may seem a long way off. But trust me, it's never too early to start saving. Getting started early will give you the best chance of having the lifestyle you want. After all, the finer things in life don't have an age limit. Let's not forget about people still in work.

 

01:15:17 - 01:37:06

Like me, for example. Let's see what I already have in mine. See if I want to add some extra to it. It's simple. I can just check online. It's easy to see what you've got using the online tools to make sure you're on track. It just so happens I'm happy with mine. I know what you're thinking. It's complicated getting started right?

 

01:37:08 - 02:01:00

Wrong. Saving into your workplace pension is simple. Support is available online through webchat or a quick phone call away for free guidance. Sure, you can opt out but that means losing out on your employer contributions so you can wave goodbye to that extra money. It's hassle free, so all that admin you may fear,

 

02:01:02 - 02:25:22

It's all done for you. All you need to do is agree to remain part of the scheme. So it's really not complicated, not confusing and certainly not something you should be putting off till a later date. Oh, hey. Oh, and one last thing. Remember, it's your pension, which means you own it. So you can choose how much you wish to put in, the investment funds and the retirement options when you come to retire.

 

02:25:24 - 02:29:16

A bit like Harry over there.

 

02:29:18 - 02:50:11

Each to their own. Oh, and don't be worrying about what to do next. Aegon will be in touch to guide you the rest of the way. But in the meantime, if you do have any questions, just speak to HR. See, I told you it wouldn't be boring. 

 

 

Making the most of your workplace savings

You'll find some simple steps to take and lots of tips to get on track or stay on track for the retirement you've set your sights on.

A completed nomination form is important to let us know who you would like to receive any benefits which may be payable on your death. You can find the appropriate form in the Documents section of your online account.

Additional resources

Using online services to manage my plan

Watch this short video to see some of the features available on the our mobile app.

00:03:06 - 00:04:04

Not everything in life

 

00:04:04 - 00:05:14

needs to be complicated...

 

00:06:08 - 00:07:07

especially when it comes

 

00:07:07 - 00:09:10

to managing your financial future.

 

00:10:13 - 00:11:23

The Aegon app helps

 

00:11:23 - 00:13:09

you manage your investments

 

00:13:09 - 00:15:13

and pension with ease.

 

00:15:20 - 00:18:15

One touch and you're in.

 

00:18:15 - 00:19:22

Checking your balance,

 

00:21:11 - 00:23:02

managing your investments,

 

00:24:07 - 00:25:14

or seeing your pension

 

00:25:14 - 00:27:08

has never been simpler.

 

00:28:15 - 00:30:02

That means you can spend less time

 

00:30:02 - 00:32:02

focusing on your finances

 

00:32:02 - 00:33:24

and more time doing what you want

 

00:33:24 - 00:35:13

when you want.

 

00:36:06 - 00:38:05

It's that simple.

 

00:38:05 - 00:39:20

So what are you waiting for?

 

00:40:15 - 00:42:10

Take control of your finances

 

00:42:10 - 00:43:15

with the Aegon app.

 

Download the app

You can download and register for our app 24 hours after you activate your online account. You’ll be able to view the value of your account, your transactions and a breakdown of your investments.

Apple® and App Store® are trademarks of Apple Inc.

Google Play and the Google Play logo are trademarks of Google LLC

Additional resources

Help me understand my retirement savings

All types of pension could play a part in your retirement. Whether you're enrolled in a workplace pension or a personal one, we'll help explain what they are and how you might be paying into them. 

00:00:00 - 00:24:16

When you're younger, it can be tempting to put off saving for the future. Day to day life tends to get in the way, and there's so many other exciting things to think about. Like traveling. Buying a house or buying a car. But the truth is starting to save as early as possible, even just small, regular amounts could make a big difference to how much you'll get back in the future.

 

00:24:18 - 01:02:20

By starting early, you'll be saving for longer. And so giving your savings more time to grow. One of the benefits of investing in a pension is compound interest, which means any returns you make can themselves make returns. So your savings have the potential to grow even further. For example, if you were to start saving into a workplace pension monthly from age 25 and you put away 5% of your £30,000 annual salary with your employer also contributing 3% monthly, you could potentially end up with a pot of £171,000.

 

01:02:22 - 01:33:04

But say you were to delay saving and waited another ten years until you were 35. If you were saving the same amount and assuming the same rate of growth, your potential pot would drop to £92,900. These figures are examples only they're not guaranteed and are based on calculations to help you understand your options using our Retirement Income Planner calculator. These examples assume a retirement age of 60 and an investment saving in the scheme default fund.

 

01:33:07 - 02:00:01

The retirement income calculated is dependent upon a number of factors. Although not a complete list, these factors include future contribution levels, the age you start taking benefits and external influences such as investment returns, inflation, interest rates, annuity rates and any fund and or product charges. Your actual investment growth may be higher or lower depending on the performance of the investment funds in your pension pot.

 

02:00:03 - 02:23:15

To find out more and calculate your retirement income options, access the calculator provided within your secure online account. Your actual investment growth may be higher or lower depending on the performance of the investment funds in your pension pot. And don't forget that inflation will reduce what you can buy in the future with the amount shown for guidance based on your own personal circumstances.

 

02:23:18 - 02:39:14

Look out for information in your annual statement or alternatively, you can speak to our Aegon assist team who provide a free guidance based service and can give you information to help you make the right decision for you.

 

Additional support

Retirement essentials

Money Tips

What’s salary sacrifice?

What happens to my workplace pension when I leave my employer?

There are several ways that you could potentially save money by bringing all of your pots together. 

(00:07) Is your pension collection getting a little unruly. With all the jobs you may have had throughout your adult life. Different pots of bound to tot up. So, combining them into one big pension can be a way to keep them under control. This will certainly make things much more manageable, but there are also reasons why merging your pots might not be the right thing to do.

(00:30) So, before you make any decisions, here's what you need to know. For starters investment, if one or more of your pensions is out of tune with your investment goals and your appetite for risk, it might make sense to move it.

(00:45) Some pensions may have more investment choices than others, so you may want to move into one that offers a better investment selection. Don't forget though, if you do move, the value of your pension, It can still fall as well as rise. And the value of your pension pot when you retire may be less than has been paid in any new investments will also have their own set of risks. So make sure you check these in the fund fact sheets.

(01:08) Next up, special guarantees. Your pension may have some special benefits, things like guaranteed annuity rates or a protected retirement age. If you move from a pot with any of these features, you'd lose them. And last but not least are charges. Every pension pot has a charge, usually a management charge, and these vary, so be sure to carefully compare these. Some companies may also charge an exit fee for moving. So if that's the case, you'll need to decide whether it's worth it.

(01:38) Sometimes you'll need some words of wisdom, which is where money helper comes in. They can provide you with free guidance, but for advice tailored to your own needs, you'll need to speak to a financial advisor. In some situations, getting advice is a legal requirement, like if you have a defined benefit pension, sometimes more fondly called a final salary pension. There's a bit more to moving this type of pension. And if the value is 30,000 pounds or more, you'd have to seek financial advice.

(02:09) Of course. Another product of moving jobs is finding your old pensions, who remembers the name or account number of their first pension. If you do remember some of these details, then contacting your old pension provider or old employer is a good place to start. If not, the pension tracing service is a free government service that lets you track down the golden oldies of your employment history. Taking stock of your pensions will be one tick on the life admin to-do list. And who knows, with over 26 billion pounds in unclaimed forgotten pension pots, you might even uncover a lost treasure.

Additional support

Combining your pensions

Why transfer your pension to Aegon?

Bringing investments together

How to request a transfer in

Help with tracing old pensions

Guidance from Aegon Assist

Find out more about our seven key areas of focus as we continue our sustainability journey.

Sustainability Matters

Making a positive impact is a key element of our strategy and is integral to our daily decision-making. We recognise that as a business we can, and want to, make a difference. Find out more about our commitment to making a positive impact.

Read our sustainability brochure

Additional support

Corporate sustainability

Our IGC makes sure we deliver value for money and holds us to account in placing your interests first. Giving you peace of mind. 

Financial wellbeing is how you feel about the control you have over your financial future – and your relationship with money.

Find out how to protect your retirement savings as well as some handy online security tips.

If your employer allows, you can invest in a stocks and shares individual savings account (ISA).

How do I buy, transfer and manage my Aegon ISA?

We offer the Aegon ISA at your scheme price, and you may benefit from any potential charge cap.

Did you know you can also share this benefit with up to five people? Family price match allows you to share the benefit of saving in a tax-efficient way with those closest to you. When signing up, we'll offer your family member an Aegon Stocks and Shares ISA at the same charge you currently benefit from.

Investment options explained

A guide to what you should know about investing your money.

00:04

Whether you’re saving for retirement, a child’s education or a dream holiday, the funds you invest in can make a big difference to how your savings grow.

00:14

When choosing which funds to invest in, it’s important that you understand what you need the outcome to be, and find the funds that can help you achieve your goals. For example, you should think about:

00:26

What do you need from your investment?

00:28

How much do you need your funds to grow to meet your saving needs?

00:32

What’s your risk appetite?

00:34

All investments carry some degree of investment risk, and may fall as well as rise. Generally speaking, riskier funds have better long-term growth potential than less risky funds, but they’re also more likely to fall in value.

00:47

Less risky funds are less likely to fall in value, but the downside is that they tend to grow more slowly.

00:54

In all cases the value of your investments can fall as well as rise and you may get back less than you invest.

01:02

So, you’ll need to work out the balance between risk and growth potential that’s right for you. You could take some financial advice to help you with this.

01:09

Do I need to invest long term or short term to reach my goals?

01:14

If you’re investing for the long-term, say ten years or more, you may be more prepared to weather some market ups and downs in the hope of achieving greater long-term returns. But if you need to access some, or all, of your money in the near term – for example – if you’re taking an income from your retirement savings – you’re likely to be more concerned about short-term falls.

01:35

Once you know your investment needs, the next step is to find the funds that best match them. Investing in a mix of different funds will mean you aren’t relying on the success of one region or investment type alone.

01:48

Fund factsheets and Key Investor Information Documents are a great place to start to find out about each fund. They'll tell you everything from what type of fund it is, how it's managed, its past performance and how much risk it takes. You can read these on your customer dashboard by selecting the fund you're interested in.

02:08

Please remember that the value of investments can fall as well as rise and you could get back less than you invest. So, if you’re at all unsure about what to invest in or would like to talk it through, you should get some financial advice or guidance.

Additional support

What is investing?

What is a default fund?

TargetPlan workplace choices

Selecting alternative funds

How to switch funds

Responsible investment

My retirement options

00:01:09 - 00:03:27

Run up to retirement.

 

00:03:27 - 00:05:13

As we all get ever closer

 

00:05:13 - 00:06:25

to retirement age.

 

00:06:25 - 00:07:24

There's certain things

 

00:07:24 - 00:08:28

we need to put in place

 

00:08:28 - 00:11:04

to make sure we're ready.

 

00:11:04 - 00:12:25

Doing an overall financial

 

00:12:25 - 00:14:23

check is a good start.

 

00:14:23 - 00:16:19

If you have a financial adviser,

 

00:16:19 - 00:19:05

they'll be able to help you with this.

 

00:19:05 - 00:21:18

Work out what finances you have,

 

00:21:18 - 00:22:27

what you can save,

 

00:22:27 - 00:25:13

and what you need for when you retire.

 

00:25:13 - 00:27:16

Then, working with your adviser,

 

00:27:16 - 00:29:09

put in place investment plans

 

00:29:09 - 00:30:17

that may give you the potential

 

00:30:17 - 00:32:09

to grow at the rate you need it to,

 

00:32:09 - 00:33:10

over the timeframe

 

00:33:10 - 00:34:06

you have before

 

00:34:06 - 00:36:16

you ideally want to retire.

 

00:36:16 - 00:38:25

Then, as you get closer to retirement,

 

00:38:25 - 00:39:29

you need to make sure

 

00:39:29 - 00:41:10

that the investments you do

 

00:41:10 - 00:42:27

have are at a level of risk

 

00:42:27 - 00:44:03

that suits you.

 

00:44:03 - 00:45:07

There are several options

 

00:45:07 - 00:46:04

available to you

 

00:46:04 - 00:47:21

at this stage to check

 

00:47:21 - 00:48:25

if you're still on track

 

00:48:25 - 00:50:18

to hit your goals.

 

00:50:18 - 00:51:29

Doing your own research

 

00:51:29 - 00:53:03

and taking some advice

 

00:53:03 - 00:53:27

or guidance

 

00:53:27 - 00:54:10

will help

 

00:54:10 - 00:55:04

you understand

 

00:55:04 - 00:57:18

what options are best for you.

 

00:57:18 - 00:58:24

There are many options

 

00:58:24 - 01:00:17

available to you at retirement,

 

01:00:17 - 01:02:17

which can be confusing,

 

01:02:17 - 01:03:18

so at this stage

 

01:03:18 - 01:05:04

it might be wise to consider

 

01:05:04 - 01:07:06

bringing your retirement pots together

 

01:07:06 - 01:09:15

if you haven't already done so,

 

01:09:15 - :01:10:11

remember that

 

01:10:11 - 01:12:24

consolidating isn't for everyone.

 

01:12:24 - 01:13:25

If you're unsure,

 

01:13:25 - 01:15:24

you should get some financial advice

 

01:15:24 - 01:17:03

or guidance.

 

01:17:03 - 01:18:26

Whatever your circumstances,

 

01:18:26 - 01:19:29

don't stress.

 

01:19:29 - 01:20:28

We’ll work together

 

01:20:28 - 01:22:05

to give you the best chance

 

01:22:05 - 01:24:13

at the retirement you're hoping for.

 

01:24:13 - 01:25:12

Powerfully Simple

 

01:26:22 - 01:27:15

by Aegon.

 

Additional resources

MoneyHelper