Changes to Select Portfolio charges

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In July 2016, we made changes to our International Bond Select Portfolio and UK Corporate Bond Select Portfolio.

The changes also affected our Select Portfolios because they also invest in the underlying funds. And, although the charges changes were implemented on our systems, we did not communicate these changes to investors at the time.

Old charges were also displayed on our literature, such as fund factsheets, for a while. All of our material has now been updated to reflect the changes below.

What’s changed?

The charges for our Select Portfolio range of funds on our Aegon Retirement Choices (ARC) platform are:

Fund nameOld fund chargeNew fund charge*Difference
Cautious Select Portfolio (ARC) 0.75 0.7 -0.05
Balanced Select Portfolio (ARC) 0.8 0.75 -0.05
Balanced Plus Select Portfolio (ARC) 0.85 0.8 -0.05
Growth Select Portfolio (ARC) 0.85 0.8 -0.05
Balanced Plus Select Portfolio (ARC) 0.85 0.85 0

*This is on top of any product or adviser charge you pay and includes a fixed management fee plus expenses that vary with the day to day costs of running the fund.

The charges for our Select Portfolio range of funds for our older pension are:

Fund nameOld fund chargeNew fund charge*Difference
Cautious Select Portfolio 1.6 1.55 -0.05
Balanced Select Portfolio 1.65 1.55 -0.1
Balanced Plus Select Portfolio 1.7 1.65 -0.05
Growth Select Portfolio 1.7 1.65 -0.05
Balanced Plus Select Portfolio 1.75 1.7 -0.05

*This includes a standard 1% product charge, a fixed management fee and expenses that vary with the day to day costs of running the fund.You may pay a different product charge.

What does this mean for current investors?

Current investors don’t need to do anything. We routinely review our portfolios and may make changes where we have to, to try to ensure they continue to meet their objectives. The fund objectives and risk ratings are not changing.

If you’d like more information, please speak to your financial adviser. If you don’t have a financial adviser, you can find one in your area by going to www.unbiased.co.uk.

Investors should be aware that the value of this investment can go down as well as up. There's a risk they may get back less than they invested.