What are the charges that are applied to my Aegon Secure Income bond?

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How much we charge depends on the guarantee(s) you’ve selected, your choice of funds and when your bond was taken out. Your policy schedule will clearly show what guarantee options you chose. Please note that our policy conditions allow us to change our charges in certain conditions.

To find out the charges that apply to your bond, you should first check the number that appears on 'Your policy conditions' booklet and then view the details below corresponding to the number.

Annual management charge

The annual management charge is specific to the fund(s) you’re invested in.

Funds

Annual management charge

UK Cash fund

0.50%

Core Portfolios

0.50%

Guarantee option fee

If the bond is invested in a mix of funds, we’ll calculate the percentage fee proportionately. Each quarter, we’ll average the daily percentage fees and apply them to the bond.

We’ll apply the fee as a percentage of the highest recorded fund value less guaranteed income paid to date.  The guaranteed option fee will be deducted assuming there’s a fund value.

At the end of the guaranteed income period, we’ll stop deducting the guarantee option fee.

The table below sets out our guaranteed option fee if your bond was taken out on or before 22 March 2012.

Fund (UK fixed interest/UK equities split)

Guarantee option fee

Without guaranteed death benefit

With guaranteed death benefit

80/20 Core Portfolio

0.20%

0.30%

70/30 Core Portfolio

0.25%

0.45%

60/40 Core Portfolio

0.45%

0.75%

50/50 Core Portfolio

0.70%

1.20%

UK Cash fund

0.15%

0.20%

The table below sets out our guaranteed option fee if your bond was taken out from March 23 2012 onwards. In some instances bonds set up from 23 March 2012 up to and including 13 April 2012 will have the fees from the table above applying. If your bond was started within these dates then you should call our Client Relations team on lo-call 0345 6000 173 if you're calling from the UK, or 00 353 1 673 8840 if you're calling from outside the UK to confirm which guarantee option fees apply to your bond. Your policy schedule will confirm when your bond was started.

Fund (UK fixed interest/UK equities split)

Guarantee option fee

Without guaranteed death benefit

With guaranteed death benefit

80/20 Core Portfolio

0.60%

0.90%

70/30 Core Portfolio

0.85%

1.35%

60/40 Core Portfolio

1.30%

2.00%

UK Cash fund

0.45%

0.50%

Initial charge

Your ‘Charges schedule’ will give you full details of this charge if it applies.

Establishment charge

Your ‘Charges schedule’ will give you full details of this charge if it applies.

Fund based trail charge

Your ‘Charges schedule’ will give you full details of this charge if it applies.

Cash-in charges

Your ‘Charges schedule’ will give you full details of this charge if it applies.

Switching charge

We give you 12 free switches a year. We charge £25 for each switch over and above this amount.

One free switch covers the sale and purchase of funds.

Valuation charge

We'll send you a statement each year telling you the current value of your bond. You can have a further three free statements each bond year. We charge £40 for each statement request over and above your four free statements each bond year.

Currency conversion charge

If the premium isn’t paid in UK Sterling and we need to convert the currency, we’ll deduct a currency conversion charge. This will be a percentage of the amount being converted. Your 'Charges schedule' will give you full details of this charge.

Annual management charge

The annual management charge is specific to the fund(s) you're invested in.

Funds

Annual management charge

UK Cash fund

0.10%

Core Portfolios

0.10%

Guarantee option fee

If the bond is invested in a mix of funds, we’ll calculate the percentage fee proportionately. Each quarter, we’ll average the daily percentage fees and apply them to the bond.

We’ll apply the fee as a percentage of the remaining premium.  The guaranteed option fee will be deducted assuming there’s a fund value.

At the end of the guaranteed income period, we’ll stop deducting the guarantee option fee.

Fund (UK fixed interest/UK equities split)

Guarantee option fee

Without guaranteed death benefit

With guaranteed death benefit

80/20 Core Portfolio

0.25%

0.30%

70/30 Core Portfolio

0.45%

0.55%

60/40 Core Portfolio

0.75%

0.90%

UK Cash fund

0.15%

0.15%

Administration charge

The administration charge is a specific percentage (based on the amount of money you invested - the premium).

Premium band (£)

Administration charge (% of fund each year)

20,000 - 24,999.99

0.95%

25,000 - 49,999.99

0.70%

50,000 - 74,999.99

0.60%

75,000 - 149,999.99

0.55%

150,000+

0.50%

Currency conversion charge

If the premium isn’t paid in UK Sterling and we need to convert the currency, we’ll deduct a currency conversion charge. This will be a percentage of the amount being converted. Your 'Charges schedule' will give you full details of this charge.

Adviser charges

If you agree to pay a fee to your financial adviser for their advice and/or services, we can facilitate those payments to your adviser from your plan. You and your adviser agree how much this charge will be.

Annual management charge

The annual management charge is specific to the fund(s) you're invested in.

Funds

Annual management charge

Managed Risk Portfolios

0.20%

Core Portfolios

0.10%

UK Cash fund

0.10%

Guarantee option fee

If the bond is invested in a mix of funds, we’ll calculate the percentage fee proportionately. Each quarter, we’ll average the daily percentage fees and apply them to the bond.

We’ll apply the fee as a percentage of the remaining premium.  The guaranteed option fee will be deducted assuming there’s a fund value.

At the end of the guaranteed income period, we’ll stop deducting the guarantee option fee.

Fund (UK fixed interest/UK equities split)

Guarantee option fee

Without guaranteed death benefit

With guaranteed death benefit

Managed Risk Portfolio Defensive

0.25%

0.30%

Managed Risk Portfolio Cautious

0.45%

0.55%

Managed Risk Portfolio Balanced

0.75%

0.90%

80/20 Core Portfolio

0.25%

0.30%

70/30 Core Portfolio

0.45%

0.55%

60/40 Core Portfolio

0.75%

0.90%

UK Cash fund

0.15%

0.15%

Administration charge

The administration charge is a specific percentage (based on the amount of money you invested - the premium).

Premium band (£)

Administration charge (% of fund each year)

20,000 - 24,999.99

0.95%

25,000 - 49,999.999

0.70%

50,000 - 74,999.99

0.60%

75,000 - 149,999.99

0.55%

150,000+

0.50%

Currency conversion charge

If the premium isn’t paid in UK Sterling and we need to convert the currency, we’ll deduct a currency conversion charge. This will be a percentage of the amount being converted. Your 'Charges schedule' will give you full details of this charge.

Adviser charges

If you agree to pay a fee to your financial adviser for their advice and/or services, we can facilitate those payments to your adviser from your plan. You and your adviser agree how much this charge will be.