You receive an annual or quarterly statement depending on the investments or products you have with us. These are personalised statements that show account valuations and other information on the investments you hold.
At certain times of the year we may include additional information, for example:
- in your first statement (usually) of the calendar year - we may include details of the costs and charges of the services you’ve received, and the effect of those costs on your investment returns
- in the first statement (usually) you receive after the end of the tax year - we may include a tax voucher containing information you’ll need if you complete a self-assessment tax return.
Here we've provided answers to some of the questions we've been asked about these statements. If you you’ve any further questions about your statement please contact your financial adviser if you have one, or visit support.
Please note that if you contact us we can’t give you financial advice. You shouldn’t send personal or financial information if you contact us by email, as email’s not a secure way of sending this information.
You've received this statement because you have investments and/or products with us. These statements provide account valuations and other important information about the investments you have.
If you only hold insured assets in a pension you’ll receive a statement once a year, giving account valuations and other information on the investments you hold.
If you hold other assets/products (such as an ISA) you’ll receive a statement four times a year. We send it to you just after the three-month anniversary of your initial investment through Retiready.
You’ll pay charges to the company or people who manage and maintain your investments, and for your account with us.
These charges are usually for:
- the fund manager for the funds you’re invested in
- your financial adviser or intermediary for any services they provide
- Aegon for administering your account
You’ll see our annual charge and any adviser/intermediary charge as separate charges. Fund managers charges are reflected in the price of the fund.
We’re still required to provide you with a statement for any products and investments that you had during the statement period.
If relevant, you’ll also receive a tax voucher for the period to help you complete your tax return.
Yes. Each of your statements will be available online in your secure account. Please log in to your online account or register if you haven’t already, to see your statements.
Questions about the costs and charges information in your statement
Charges have always applied to your account. We’re now sending you detailed statements that break down those charges in more detail.
All customers pay us an annual charge for the services we provide. You’ll also see any charges paid to a fund manager and any service or administration charges. This is so you can better understand the charges that apply and the affect they have on your account, in line with regulations provided by the Financial Conduct Authority.
The charges on this statement are broken down to show what you’ve paid to:
- the fund manager for the funds you’re invested in
- your financial adviser or intermediary for the services they provide
- Aegon for administering your account
Charges are shown as a monetary value and as a percentage of the average value of your account across the previous year. We also show the affect those charges have had on the growth of your account.
We know that sometimes percentages can appear high and don’t reflect what you might expect, but we’re required to show a percentage figure as well as a monetary one.
They can appear high as they’re the actual amount of charges taken but shown as part of the average value of your account over a period of up to a calendar year.
Percentages can appear high due to:
- large investments or withdrawals during the period
- all charges being taken from one wrapper/product
- ad-hoc adviser charges being included along with ongoing charges
Remember that the monetary figures reflect the actual amount of the charges taken.
If you have other products or investments with us then you’ll continue to receive statements for the other products/investments that you have.
We’re still required to provide you with a statement for any wrappers/investments that you had over the statement period.
Questions about your consolidated tax voucher
We include a tax voucher in the first statement you receive after the end of the tax year. It shows any dividend or income distributions generated by your investments that were paid during the statement period.
You’ll need the information for any tax return you may need to complete.
If you’ve invested in offshore investment funds, you’ll need to consider any impact they may have on your UK tax position and UK Self-Assessment tax return.
Some offshore investment funds have been given a ‘reporting fund’ status by HM Revenue & Customs (HMRC) - these funds are treated differently to those with a ‘non-reporting fund’ status.
Income that arises from a reporting fund, whether it’s distributed to you or not, needs to be included on your UK tax return. HMRC treat this as excess reportable income (ERI) and a distribution of income to you.
ERI is any profit from a reporting fund that’s not distributed to its investors as either dividends or interest. For UK tax purposes, HMRC treat this distribution as if you’d received the ERI on the fund distribution date. This is six months after the end of the fund's accounting period. The offshore investment entity makes this information available by publishing it on their website.
View a list of HMRC approved offshore reporting funds.
You should consult a tax adviser if you have any questions about any impacts that offshore investment funds may have on your tax position.