Aegon, one of the UK's largest pension and investment providers, announces the launch of its new Junior Self-Invested Personal Pension (SIPP) product. Designed to assist financial advisers in facilitating efficient intergenerational planning by offering a value-driven solution. This solution offers no platform charges until the child turns 18.1
In last year’s Autumn Budget, the Chancellor announced changes scheduled for April 2027, which will bring previously exempt assets, like unused pensions and death benefits, under the scope of IHT.2 Additionally, the IHT nil rate remains frozen at £325,000 until 2030, marking 21 years at the same level. This highlights the growing need for strategic planning in generational wealth transfer.
Aegon’s Junior SIPP equips advisers with a valuable resource to help clients in efficient wealth succession management, with the potential for 20% tax relief on a total contribution of up to £2,880 in the tax year (before tax relief) and long-term investment growth.
Aegon’s continues to be committed to offering diverse investment options suited to the evolving needs of financial advisers and their clients.
Stephen Crosbie, Managing Director – Adviser Platform at Aegon, comments:
“The addition of a Junior SIPP demonstrates Aegon’s commitment to delivering value-driven solutions tailored for financial advisers. With upcoming inheritance tax implications for pensions, it’s vital to equip advisers with effective planning tools. This product is crafted to aid advisers in assisting their clients successfully navigate wealth transfer across generations.
“By further enhancing our investment offerings, we are empowering advisers to offer varied choices that align with their clients’ evolving needs. We are dedicated to providing advisers with comprehensive frameworks to navigate complexities, helping them to achieve optimal financial outcomes for their clients.”
For further details about Aegon’s newly introduced features and how they can benefit advisers, please visit: aegon.co.uk/platform-update
- Platform charges won't apply until the child turns 18, when the Junior SIPP converts to our standard SIPP. Investment fund charges and any adviser charges will apply. Capital at risk.
- This information is based on our understanding of current taxation law and HMRC practice, which may change. The value of any tax relief will depend on individual circumstances, which may change.
The information in this press release is intended solely for journalists and shouldn't be relief upon by any other persons to make financial decisions.
About Aegon
In the UK, Aegon offers pension and investment solutions to over 3.5 million customers, supported by over 3,000 employees. Figures are correct as of 31/12/2024. Learn more at aegon.co.uk/about-us
Aegon UK is part of the wider Aegon Group, an international financial services holding company. Aegon’s ambition is to build leading businesses that offer their customers investment, protection and retirement solutions. Aegon’s portfolio of businesses includes fully-owned businesses in the United States and United Kingdom, and a global asset manager. Aegon also creates value by combining its international expertise with strong local partners via insurance joint ventures in Spain & Portugal, China and Brazil, and via asset management partnerships in France and China. In addition, Aegon owns a Bermuda-based life insurer and generates value via a strategic shareholding in a market-leading Dutch insurance and pensions company.
Aegon’s purpose of helping people live their best lives runs through all its activities. As a leading global investor and employer, Aegon seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion & diversity. Aegon is headquartered in The Hague, the Netherlands, and listed on Euronext Amsterdam and the New York Stock Exchange. More information can be found at aegon.com/about
Aegon is a brand name of Scottish Equitable plc (No. SC144517) and Aegon Investment Solutions Ltd (No. SC394519) registered in Scotland, registered office: Edinburgh Park, Edinburgh, EH12 9SE. Both are Aegon companies. Scottish Equitable plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Aegon Investment Solutions Ltd is authorised and regulated by the Financial Conduct Authority. Their Financial Services Register numbers are 165548 and 543123 respectively. © 2025 Aegon UK plc