How do I switch funds?
You can switch funds at any time, although your adviser may have to do it for you if you’re an Aegon Retirement Choices (ARC) or Aegon One Retirement (AOR) customer.
You may want to check out the pros and cons of transferring out of a lifestyle fund first.
It might also be an idea to talk to your financial adviser before you decide as it could have a big effect on your pension savings. If you don’t already have one, you can find one near you at unbiased.co.uk(Opens new window).
Please note: there may be restrictions on the funds available to your type of pension plan or product. To find out what’s available to you, login(Opens new window) to your account or go to the fund prices and performance page and click through to the fund list applicable to you.
How to switch funds
The process is different depending on what type of plan you have.
Aegon Retirement Choices (ARC), Workplace ARC and Aegon One Retirement (AOR)
Once you've logged in, click on your wrapper/plan number. Then, on the left hand side of the screen under 'Transactions', click 'Switch into assets'. You should be aware that it will take two working days to process any switch instruction and during that time, your savings will not be invested.
If you don’t have access to online services get in touch with your adviser as they would have to give you access for certain transactions.
If you don’t have an adviser, you can find one near you at unbiased.co.uk. There may be a charge for financial advice.
Alternatively you can call us on 0345 608 1680 to gain access to online services. Press option 1 for ARC, option 2 for AOR and option 3 for Workplace ARC.
Please note, Aegon One Retirement customers can’t choose another lifestyle fund.
Switch online by signing in to your Retiready account(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window). Once you’ve logged in, go to the Savings page and select 'Retiready Pension'. You'll then have the option to 'Switch fund'.
If you haven’t already activated your account, you can do so here(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window)(Opens new window). if you don't have an activation code, call us on 0345 610 0072 and choose option 1.
If you’re in Retiready, you can choose from the five Retiready funds, each of which is designed to match a different risk level. None of these funds are lifestyle funds so, if you decide to switch out of your current lifestyle fund, you won’t be able to choose a lifestyle fund in the future.
Aegon or Scottish Equitable pension products with plan numbers that are usually six or seven digits long and have the prefix 'UP'
Online switching is also available for most of our other products through our secure online services - you'll need to log in(Opens new window)(Opens new window) to access this.
You can also complete the Alteration of fund choice form (PDF - 200kb)(Opens new window)(Opens new window) if you have one of the individual or a workplace plans listed below:
- Individual plans – Buyout, Group Personal Pension plan, Group Self-invested Personal Pension plan (insured element), Reflex Control (insured element), Flexible Pension Plan (insured element), Personal Pension, Retirement Control (insured element), Trustee Transfer Plan, Stakeholder and Group Stakeholder plan.
- Workplace plans - Group Money Purchase, Group Additional Voluntary Contribution, and for the following contracts on an individual policy basis – Exsel Fund, Exsel Plus.
The value of investments can fall as well as rise meaning the final value of your pension plan may be less than the amount invested.
Your choice of investment fund can have a big effect on your pension benefits. If you're in any doubt about which fund's right for you, you should speak to a professional financial adviser. If you don't already have one, you can find one near you at unbiased.co.uk(Opens new window).