Aegon to pay half employer’s contributions in platform offer

Aegon will pay 50 per cent of the first three months’ contributions of employers who adopt the workplace savings functionality of its new Aegon Retirement Choices platform.

The provider says the incentive, which is open to those organisations placing business on the platform by the end of 2013, is designed to help employers who want to engage with auto-enrolment.

Aegon unveiled its workplace savings platform solution yesterday. The provider says the ARC platform, which comes with an auto-enrolment compliance hub at no extra cost, is the first to facilitate a seamless transition from the accumulation of workplace savings into retirement income solutions, using the same system functionality.

At the launch event the provider restated its commitment to honour existing commission levels on auto-enrolment members to existing schemes ‘as long as the profile of the scheme does not change significantly’.

Aegon UK chief executive Adrian Grace says: “ We have solutions in place to help advisers write quality business post-RDR and demonstrate their professionalism.

“We have initiatives to help employers engage with pension reform and we have the products and services that will help our customers reach their retirement goals. Huge changes in this industry are around the corner and require huge commitments from providers.”

Ian McKenna, Director of Finance and Technology Research Centre says: “I haven’t seen an equivalent level of at-retirement planning combined with corporate capability anywhere in the world.”