The Retiready Pension

Having a Retiready Pension offers a tax-efficient way of saving, with simplified investment choices, to help make retirement saving more straightforward.

Benefits of the Retiready Pension

How a Retiready Pension can help you:

  • You're in control of your pension
  • Guidance on your retirement options when you need it with Aegon Assist
  • Simple investment choices
  • Clear charges
  • Tax relief on your contributions
    (For example, for every £80 you pay, tax relief boosts the amount invested to £100.)
  • Up to 25% tax free cash option when you retire
  • You can combine your pension pots with Retiready
  • Access to Your Retirement Planner

Things to think about

  • The value of an investment can fall as well as rise and isn't guaranteed.
  • You can only access your pension once you turn 55 (expected to change to 57 from 2028).
  • Before taking benefits you should get financial advice to make sure you fully understand whether it's in your best financial interests - there may be a charge for this. You should consider shopping around to make sure you get the right solution - PensionWise is a free and impartial government service that helps you understand what you can do with your pension savings.
  • While you can take 25% of your Retiready Pension pot as a tax free cash sum when you retire, any balance is taxed as income and may put you in a higher tax bracket, especially if you take it all in the one tax year. Read How will you be taxed? to see more information on how this works.
  • The value of any tax relief depends on your individual circumstances.
  • The tax information provided on this page is based on our understanding of current tax law and HMRC practice - which may change.
  • Combining your existing pension pots through Retiready is subject to terms and conditions.
  • Transferring a pension may not be the best option for you. You may lose features, protections, guarantees or other benefits - so make sure you compare products before transferring. It’s up to you to decide if this is the right decision for you. If you’re not sure, speak to a financial adviser - there may be a charge for this.

    It’s important to remember the value of your consolidated pension pot can still fall as well as rise and the final value of your pension pot when you come to take benefits may be less than has been paid in.

    Any new funds you move your money into will have their own set of risks that will be detailed in the fund information available to you.

Retiready Pension additional information

Making payments

We're flexible. You can simply make one-off payments, monthly contributions and/or transfer funds in from another registered pension fund.

Charges

  • No set-up or transfer fee.
  • A maximum service charge of 0.5% a year depending on the value of your fund - taken monthly.
  • Each fund has it's own investment charge that will vary depending on the fund. Details of the investment charges can be found on our fund factsheets.
  • 0.25% of any investment made goes into a cash facility within your Retiready Pension to cover the service charges. We'll pay interest on this amount.

These charges may vary in future.

Get your Retiready Pension today

Apply now for a personal pension