What's my position if Aegon goes out of business?
Updated 01 March 2019
In the unlikely event that Aegon (the provider of the Retiready service) goes out of business you'll have access to the Financial Services Compensation Scheme (FSCS). The actual level of compensation you receive will depend on your claim. The FSCS only pays compensation for financial loss. Compensation limits are per person per firm, and per claim category.
Deposits are covered for up to £85,000 per person per firm.
Investments are covered for up to £50,000 per person per firm.
The Retiready Pension is a contract of insurance. Insurance business of this type is generally covered for 100% of the value of the whole claim, without limit.
Investment business, like your Retiready ISA is generally covered for 100% of the value of the whole claim, up to a maximum £50,000.
Money held in your cash facility is a deposit. Deposits are covered up to £85,000 per person per firm.
You'll find more information in our Investor protection document