Your pension transfer to Aegon Retirement Choices

We’re committed to helping customers get ready for retirement and believe that flexibility and choice play an important part in this.

Aegon Retirement Choices (ARC) is an award-winning modern pension platform that can adapt as your needs change and savings grow – letting you use one pension account through working life and into retirement.

What’s happening?

We're planning to transfer your Aegon pension to ARC, unless you choose to opt out. And the transfer to ARC means you'll benefit from:

  • the same or lower charges compared to your existing pension,
  • opportunities for flexible investment and income options,
  • the ability to add details of other assets to create a more complete picture of your retirement savings,
  • online digital management and communications, and
  • a pension that you can take with you from working life into retirement.

Need to find out more?

If you need advice specific to you and for your circumstances, please call your financial adviser.

Frequently asked questions, terms and conditions and general information about transferring from your current Aegon pension to ARC, can be found under the FAQ and Important reading sections on this page.

FAQs - frequently asked questions

This section provides more information about your current Aegon pension transfer to ARC.

ARC offers a new modern pension plan. You’ll be able to access new features that haven’t previously been available to you, like combining all your pension savings in one place.

  • Your charges will stay the same or be lower than your existing pension.
  • You can bring all your investments together in one place, giving you a single view, even if they aren't with Aegon.
  • You'll have the option to consolidate your investments.
  • Once you've transferred, your financial adviser or Aegon, will be able to give you access to ARC so you can:
    • log into your personal online document library which will contain your statements and illustrations;
    • add details of other savings and assets to create a more complete picture of your retirement savings;
    • see how your portfolio is performing at anytime, no matter where you are.

Yes. Once you've received confirmation from us that your transfer to ARC is complete, you can start making contributions into your new pension.

If you set up and start paying regular or one-off contributions into your new ARC pension, you won’t be able to ask us to move your pension funds back to your previous Aegon pension. Paying regular or one-off contributions into your ARC pension demonstrates that you're happy with the move to ARC. Please see the Customer returns policy(Opens new window)(Opens new window)(Opens new window)(Opens new window) for more information.

Yes, you can consolidate other pensions into ARC - this could save on paperwork and cut down on multiple charges. Please speak to your financial adviser about whether consolidating your other pension savings into ARC is right for you.

Once you've transferred other retirement savings you may have into your ARC pension, you won't be able to ask us to move your pension funds back to your previous Aegon pension. Paying a transfer to your ARC pension demonstrates that you're happy with the move to ARC.


Yes. If you don’t want your current Aegon pension to be transferred to an ARC SIPP, please let us know before the date quoted in the letters we sent you.

Your pension will continue as is – but you won’t benefit from the new charges and features that ARC offers.

You can choose to opt out of the move to ARC, by contacting us, at any time prior to the transfer date quoted in your letters.

After you’ve been transferred, if you decide that ARC isn’t right for you - you can ask us to move you back to your former Aegon pension, unless you or your adviser has undertaken any financial transactions.

If no changes have been made to your new ARC pension, then we'll reinstate your former Aegon pension on the same terms that applied immediately prior to the transfer taking place, including any exit charges that we didn’t apply as part of the transfer.

Please see our Customer returns policy(Opens new window)(Opens new window)(Opens new window) for more information.

To see the charges for ARC, please refer to our charges guide(Opens new window).

Your new charges will be available in the illustrations saved in your online document library, after the transfer. Your financial adviser, or Aegon, will be able to give you access to your document library. 

These charges don't include or take into account any fees that are currently paid to your financial adviser or any agreements that you may make with your financial adviser in the future.

Where a payment of ten-year Fund Bonus is due to be applied to your current terms in the future, we’ll make a bonus payment on transfer to take account of this. The bonus payment on transfer and the lower charges on your Retiready pension will ensure the projected value under your Retiready Pension is higher at your selected retirement date than the projected value under your current terms, which includes the fund bonus after year ten.

The bonus payment is calculated as a proportion of the expected amount of ten-year Fund Bonus under your current terms, according to the number of contributions paid under each part of regular contributions or the duration since the date on which the single contribution and/or transfer payment is treated by us as being applied to the policy, as relevant. The bonus is at least as much as you would receive if you were to transfer your pension to another provider. Where you're within one year of the ten-year Fund Bonus date, assuming all contributions are up-to-date, we’ll pay the full bonus on transfer to your ARC SIPP.

Your illustration will show the charges after the bonus payment has been applied to your new plan. You can find your illustration in your document store after the transfer to ARC.

Next steps

Look out for your welcome letter that includes your confirmation of transfer document. In the meantime, if you have any queries please contact your financial adviser.