Aegon caps charges for ARC and One Retirement customers

The life company is also reducing the minimum investment for drawdown for ARC and One Retirement from £50,000 to £20,000, as a consequence of the reforms announced by Chancellor George Osborne in last month's Budget. From 3 May, new and existing customers will no longer be subject to a product charge or platform fee on holdings of £250,000 or more on both propositions, effectively capping the charges at £750 on One Retirement and £1,215 on ARC. Investors with smaller pension pots will also benefit from the new charging structure. Those with less than £250,000 will be charged a single ...