Changes to the Retiready Solutions ISA fund range

Source: Aegon UK

What this means for your investments

Now that the funds have closed, we have moved your existing investment into your cash facility. You are no longer invested in stocks and shares.

While you remain the cash facility, we won’t apply our annual charge. You can find out more about how your cash facility works here.

Going into your cash facility means your money will remain in your ISA, and you won’t lose your current tax benefits. You can transfer your investment directly to a new ISA product without impacting your ISA allowance for this year.

Next steps

We’ve contacted customers impacted by this change. We can now provide more detail about the timeline and the investor options available

• On 7 November Your investments were sold and moved the value into your cash facility.
• From 13 November the new investment solutions will be available for you to switch into by using the switch form provided.
• From or just after 22 November you’ll be able to transact in the new investment solutions on the Retiready website.

We can't automatically move investor cash into one of the new solutions. Money in your cash facility remains in your ISA, you keep your current tax benefits, and we don’t apply our annual charge to any cash value. The value of your savings, if held in cash over the long-term, may not keep up with inflation.

The value of any tax benefits will depend on individual circumstances. The favourable tax treatment of ISAs may not be maintained in the future.

How to switch into a new investment solution

To switch into a new investment solution as soon as they’re available, please complete the switch form provided and return it to us at switchesandchargesmb@aegon.co.uk by 8 November. Make sure that you read the relevant fund information first before making a decision. You can find links to that information below.

We'll process your switch form after we receive it, in line with the Retiready terms and conditions.

Customers with existing regular payments

Any payments intended for the closed fund made after 31 October 2024 will go into your cash facility. By completing the switch form and selecting a new investment solution all future regular payments after 13 November will automatically go into that solution.

Fund information for the ISA investment solutions

The names of each RR ISA solution and its risk level aren't changing.  However the charges for each solution will reduce to 0.25% each year. 

Here are links to fund specific information about the new funds. You’ll need to confirm you’ve read the relevant Key Investor Information Document (KIID) when you complete your switch form.

Source: Aegon UK

Please remember that the value of investments may go down as well as up and you may get back less than you invest.

Your options now

• Switch from cash into one of the updated investment solutions. You can do this, once you’ve read the relevant fund information, by completing, signing (by typing your name) and emailing the completed switch form to us at switchesandchargesmb@aegon.co.uk.
• Transfer to another ISA provider. You may be able to find an alternative stocks and shares ISA product from a different provider. You’ll need to fill out an ISA transfer form from the ISA provider you want to move to, to move your account. You can also go to the government website at gov.uk/individual-savings-accounts to find out more.

There’s no time limit to when you can switch or transfer, but remember, if you do nothing and keep your savings in cash over the long-term, the value and the level of income you can take from them may not keep up with inflation.

View your plan online

You can view your plan online by signing into your Retiready account. If you’ve forgotten your password, you will be able reset it on the page.

More information

You should speak to a financial adviser if you’re not sure or have any questions about your investments. There will be a cost for this service. If you don’t have a financial adviser, you can visit MoneyHelper to find the right one for you.