How do I buy, manage or transfer a workplace ISA?
Updated 28 March 2017
You can buy our Aegon Stocks and Shares ISA in addition to your workplace pension. It gives you a flexible, tax-friendly way to save, and could put you firmly in control of your retirement planning.
Also known as our DIY option, this ISA gives you more investment choice and is priced in the same way as your workplace pension is. So, if you have a discounted charge for the pension set up through your employer, this same price will be applied to your ISA.
Note – there will be additional charges added to this price depending on what investment funds you choose to invest in. And don't forget that you can only have one stocks and shares ISA in each tax year. An investment in a stocks and shares ISA won't provide the same level of security of capital associated with a cash ISA.
How do I buy it?
You can buy and manage this option and transfer in an ISA from another provider, using our transactional tool 'Aegon Retirement Choices' (ARC).
All you need to do is log into ARC using your username and password. If you’re new to ARC you can register now, just 'Chat to us online’ or 'Send us an email' using the links on the right of this page. We’ll set up an ARC account for you and you’ll have your new login details within 24 hours.
Within ARC you’ll have access to different product wrappers, some more complex than others. These can be a mix of short and long term tax efficient savings, such as a Self-invested Personal Pension (SIPP) and stocks and shares ISA. The different products sit within four ‘gating’ levels. Each gate gives you an increased level of access, opening more sophisticated products and investment options.
Your employer will initially set you up with access to a particular gate – normally gate one. You’ll be able to change this yourself giving you control over your own level of access.
You should read Your guide to Aegon Retirement Choices alongside this article for more information on how to use ARC.
We also offer a ready-made option (Retiready ISA) which is based more simply around four investment funds. You can find out more here.
• log into ARC using your username and password
• select ‘Interested in another product > Add new wrapper’ from the home page
• choose ‘Aegon Stocks and Shares ISA’ and complete the stages in the process. Check that you’re in ‘Gate 2’ or above. If you’re not, you’ll need to change your gate before you can buy.
• you can choose how you want to buy your ISA – single (one-off) or regular payments or by transferring in an ISA you’ve already got - just jump to the relevant screen.
Check with your employer before you buy, they might offer the facility to buy through their payroll.
Don't forget that you can only have one Stocks and Shares ISA in each tax year.
The value of an ISA will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than you invested. An investment in a stocks and shares ISA will not provide the same security of capital associated with a cash ISA. The favourable tax treatment of ISAs may not be maintained in the future and is subject to changes in legislation. If you're unsure about your options, or for advice on investment funds, you should speak to your financial adviser.
How do I transfer my existing ISA savings?
You can transfer any ISA savings you have elsewhere into your Aegon Stocks and Shares ISA:
• log into ARC using your username and password
• select ‘Savings elsewhere?’ and ‘Add external asset’ from the home page
• next select your ‘Aegon Stocks and Shares ISA’ choose ‘transfer’ and complete the stages in the process
Confirmation of your transfer will be uploaded to your document library.
Any ISA transfer will be made in cash. During a transfer your ISA is not invested, so you won't make any investment losses or gains. This may not work in your favour.
If you’re not sure if making a transfer is right for you, speak to a financial adviser.
Can I pay more money into my Aegon Stocks and Shares ISA?
You can pay more money in, either as a single (one-off) payment or by increasing the amount of regular payments. Or, if you have ISA savings elsewhere, you might want to consider moving these savings into your new ISA. Don't forget, you can only have one Stocks and Shares ISA and one Cash ISA in a tax year to the total value of £20,000 from 6/4/2017.
To change your payment amount:
• select your ‘Aegon Stocks and Shares ISA’ from the ‘Breakdown’ window on the home page
• choose ‘Top-up’ and complete the stages in the process.
Confirmation of your changes will be uploaded to your document library.
The flexible ISA rules introduced on 6 April 2016 don't apply to the Retiready ISA. This means if you make a withdrawal, you won't be able to replace it without it counting towards your annual limit.
Tax treatment depends on your individual circumstances and may change in the future. Investment returns aren’t guaranteed. The value of investments may go down as well as up and you may get back less than you originally invested. If you’re unsure about your options, or for advice on investment funds, you should speak to your financial adviser.