About Aegon
Aegon UK is a major UK pensions, savings and retirement solutions provider. For employers, Aegon offers a full suite of workplace pensions, retirement savings plans and associated tools designed to help businesses meet auto-enrolment duties and support employee financial wellbeing. They provide both master trust and contract-based pension schemes with flexible investment options and administrative support for employer pension management. Aegon UK+1
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Aegon UK is one of the country's most established pension providers, tracing its roots back to 1831 when it was founded as Scottish Equitable in Edinburgh. Aegon manages approximately £220 billion in assets under administration and serves over 4 million customers across the country. In the workplace pension space specifically, they support more than 8,500 employer schemes covering around 990,000 active scheme members. Aegon offers a range of workplace pension solutions including Aegon Retirement Choices (ARC) – a flexible group SIPP that can meet auto-enrolment obligations – the Aegon Master Trust, and TargetPlan contract-based pensions.
Mid-market to enterprise companies
Management fees apply
4m in the UK
Key Features & Benefits
Aegon Retirement Choices
This is Aegon's flagship workplace SIPP solution that goes beyond basic pension provision. It combines a group SIPP for auto-enrolment with optional stocks and shares ISAs and general investment accounts, creating a comprehensive workplace savings platform.
One platform handles their pension, tax-efficient ISA savings, and general investments. This simplicity means better engagement – employees are more likely to actually use benefits they can easily understand and access in one place.
Member Insights Platform
This all-in-one governance and reporting tool gives employers real-time visibility into their scheme. You can understand members' retirement positions, identify those who might be undersaving, send targeted communications, and access all the governance data regulators expect you to have.
Instead of drowning in spreadsheets or requesting reports that arrive two weeks later, you get actionable intelligence immediately.
Default Fund with Private Markets Access
Aegon's Workplace Default fund (and the newer Universal Balanced Collection) offers a lifecycle investment strategy that automatically adjusts risk as employees approach retirement. Uniquely, they've now incorporated Long-Term Asset Funds (LTAFs) giving members exposure to private equity, infrastructure, and private credit.
Most employees (around 95%) never change from their default fund, so getting this right is crucial. Aegon's default has consistently performed well, and the addition of private markets access means your employees potentially benefit from the higher returns historically available to institutional investors – returns previously accessible only to the very wealthy.
Implementation & Support
Setup Process
- Initial Consultation & Scheme Design: Dedicated Implementation Manager assigned, needs assessment completed, product selection
- System Configuration & Integration: Online admin system setup, payroll integration testing, default fund selection, governance structure established, SmartEnrol auto-enrolment configured
- Data Migration & Validation: Existing member data transferred (if switching schemes), data cleansing, contribution file format testing completed
- Training & Communications Deployment: Employer portal training, payroll team onboarding, HR briefings, employee welcome materials customised and distributed
- Go-Live & Ongoing Support: Scheme launches with full support, Member Insights governance tool activated, dedicated Implementation Manager continues as primary contact
Technical Requirements
- Payroll integration (either file-based or direct integration for larger employers)
- Employee data in standard format (CSV exports typically work)
- Email addresses for employees to receive online access credentials
Support Options
- Aegon Assist phone line
- Web chat
- Email support
- Dedicated account managers
- Online resource center