Aegon is one of the world’s largest providers of life insurance, pensions and asset management services. After buying Cofunds in 2016 it became the largest platform provider in the UK, now offering over 4,000 investment options for both advisers and customers. The company was originally known as Scottish Equitable and was formed in 1831.
Stocks and Shares ISA
Aegon’s Stocks and Shares ISA is a tax efficient way to save for the medium to long term, giving you access to a range of different investment opportunities where you can invest a regular monthly amount, a lump sum – or both. You must be 18 or over and a UK resident to qualify.
The ISA is very efficient as you have no personal liability to capital gains tax on any growth, or income tax on any income you receive, which means you don’t have to declare ISA income or growth on your tax return.
The limit for ISAs for the 2020/21 tax year is £20,000. Any money in the cash facility accrues interest which is paid on a monthly basis at the base rate of 0.05%. Money held in the Stocks and Shares ISA is used to invest into funds. You can also pay charges to withdraw from it anytime.
Aegon offers several other products for consumers, including Pension Schemes, Stocks and Shares and Insurance, as well as various workplace and investment products for businesses. The company also offers various support services, called Policy Plus, at no extra cost for its customers, which includes a Health & Wellbeing Service, Second Medical Opinions, Key Person Replacement Service and a Funeral Payment Pledge.
Aegon Reviews and Ratings
Online reviews for Aegon are quite mixed, with some users complaining about a lack of response and accountability from the company, and others accusing them of deception and using ‘bully boy’ tactics.
Communications is deemed to be slow or non-existent with very poor customer service. In many other instances customers have been impressed with the company’s professional call centre staff and the high calibre of responses.
- A long-standing, established company
- Multiple award winner including Best Claims Management / Claims Team award, Cover Protection award, Moneyfacts award, HR Specialist of the Year
- Over 4,000 investment options for both advisers and customers
- A clear website with good product detail
- Moneyfacts 5 Star Rating
- Defaqto 5 Star Rating
- Online free signup
- Some very poor customer reviews
- Unsatisfactory service levels
- No other ISA offerings available
- Fees for early withdrawal