Aegon has launched its RDR-ready group pension offering and is committed to replacing its current income drawdown plan with a new off-platform packaged solution by the end of the year.
The provider’s RDR-ready flexible pension plan and GPP plan will be offered alongside its commission-based versions until these are dropped at the end of December.
Its new ‘One Retirement’ will be a single account, for both pensions savings and income drawdown.
Adrian Grace, CEO of Aegon UK, says: “I’m delighted we have met the regulatory deadline with plenty of time to spare. This is the culmination of over two years of hard work. We started this journey with our customers’ and advisers’ needs front and centre of our thinking.
“We recognise that many advisers are having to radically transform their business models ahead of the RDR. So instead of doing the bare minimum to ‘comply’, we have completely overhauled our core propositions to ensure advisers and their clients will be able to access market leading products using the very best technology available, supported by excellent customer service.”