What is an Aegon pension? Not one product: Aegon UK runs workplace schemes, a personal pension closed to new customers and an adviser-led SIPP.

An Aegon pension is whichever Aegon plan your money sits in, and the plans work differently. Aegon's UK business reaches people through employers and financial advisers, so the first thing to know is how yours was arranged: by an employer (Aegon Retirement Choices, TargetPlan or the Aegon Master Trust), or for you as an individual (the Retiready Pension, or the Aegon SIPP on the Aegon Platform). Aegon and Scottish Equitable pension and bond plans have a login of their own. The plan name on your statement tells you more than the brand does.

Free, impartial guidance on retirement choices is available from Pension Wise, part of MoneyHelper. If Aegon holds only one of your several pots, a free call-back from an FCA-authorised adviser can cover them all; this page's form arranges it.

Aegon through work: ARC, TargetPlan and the Master Trust

If your employer chose Aegon, the scheme runs on one of three services, and Aegon splits its member pages the same way: Aegon Retirement Choices (ARC); TargetPlan as a "Group Personal Pension or Stakeholder Pension"; and TargetPlan as the Aegon Master Trust, a defined contribution scheme. The scheme information your employer handed you names which one. Who must be enrolled and the minimum contributions are set by law rather than by Aegon; see the auto-enrolment rules.

Each service has a default fund for members who make no choice. On ARC the main default is Aegon Workplace Default, "but the default fund for your scheme may differ". It is a lifestyle fund: in the last few years before retirement it moves towards investments suited to how you will take the money, and the employer picks a flexible, annuity or cash version. TargetPlan's standard default is Aegon Lifepath, though an employer may have chosen a different fund, and members can switch at any time between three routes: Do it for me (the default), Guide me (a core list of selected funds) and Leave it with me (a wide range for confident investors). The Master Trust's default is Aegon LifePath Flexi.

Fund values can fall as well as rise, and you could get back less than was paid in. Costs are covered on Aegon pension charges and fund returns on Aegon pension performance.

Retiready and the Aegon SIPP

Aegon's own personal pension for individuals was the Retiready Pension. Aegon withdrew the option of taking one out with effect from 1/12/2023, and its page now sets out the plan's features for existing holders only. They can still make one-off or monthly payments and transfer in other registered pension pots.

The Aegon SIPP is a self-invested personal pension held in an account on the Aegon Platform, a digital service for managing investments with an adviser or without one. Its provider is Scottish Equitable plc. The key information document for SIPP applications (print code APL T379319 04/26, accurate as at April 2026) gives one route in: "An adviser can open an Aegon SIPP on your behalf." Applicants must be aged 16 or over and "habitually resident in the UK", among other conditions. The document does not cover ARC, One Retirement or Retiready, so holders of those plans need their own plan papers. How a SIPP works in general is in what a SIPP is, and the wider family in personal pension plans.

Moving another pension into Aegon starts with an online application, after which Aegon contacts the old provider. For the SIPP, transfers into its pension savings part must come from pots you have not started drawing. Before any move, Aegon warns: "Your ability to access your pension benefits from age 55 may be protected in your current scheme, and could be lost if you transfer to another scheme." Aegon also says a transfer may lose features, protections or guarantees. The steps are in how to transfer a pension.

Which Aegon plan you have, and where to log in

The number you log in with varies by product, and Aegon's login page notes it may be called a customer, wrapper, plan, account or policy number. Its formats are a quick way to tell the plans apart:

  • ARC and One Retirement: a customer number starting with 2, or "an 8 digit wrapper number starting with a 7".
  • Retiready: an account number starting with a 2, or a wrapper number starting with a 7.
  • Aegon Platform: an 8-digit plan number starting with an 8 or 3.
  • TargetPlan: "Account numbers starting with A/00".
  • Aegon and Scottish Equitable Pensions and Bonds: a plan number "usually six or seven digits. May start with UP."

A reference starting with a 5 is no longer in use. A recent statement, or the papers from your employer or adviser, shows both the number and the plan name.

Drawing a pension from Aegon

Aegon's workplace pension guide says you can usually take 25% of a pot tax-free and use the rest to buy an annuity, move into flexi-access drawdown, or take it as a taxable lump sum. Its Retiready page gives the usual access age as 55, increasing to 57 on 6 April 2028; some plans carry a protected lower age. For the SIPP, the key information document lists a cash lump sum, a guaranteed income, flexi-access drawdown, or a mix, and the Aegon Platform "doesn't offer an annuity product", so an annuity bought with SIPP money comes from another provider of your choice.

Each route is explained in pension drawdown and pension annuities, and compared in your options at retirement. Whether an Aegon pot suits drawdown, an annuity or a mix is worth talking through with an FCA-authorised adviser; this page's form books that call, free of charge.

Aegon UK's announced sale to Standard Life plc

A notice on Aegon's website, read 20 October 2026, says "Aegon Group has announced the sale of Aegon UK to Standard Life plc". Its message to customers: "There will be no immediate change - it is business as usual and you do not need to do anything." It describes the deal as at very early stages, with a lot of details still to work through, including regulatory and legal approvals, and states no completion date. The plan names, logins and documents above are as Aegon publishes them now. Aegon is a brand name of Scottish Equitable plc (FCA register number 165548) and Cofunds Limited (194734). The two groups' pensions are set side by side in Aegon and Standard Life pensions compared.

Questions about Aegon pensions

Is the Aegon SIPP the same as a Retiready Pension?

No. Retiready is a personal pension that closed to new customers on 1/12/2023; the Aegon SIPP sits on the Aegon Platform and is opened through an adviser. The SIPP's key information document says it does not cover Retiready.

What is Mylo?

Aegon's press release of 14 September 2025 introduced Mylo as a new digital experience built for workplace pension members.

Can I keep an Aegon pension if I move abroad?

UK habitual residence is one of the conditions for opening an Aegon SIPP; that is a rule about applying, not about existing plans after a move. Ask Aegon what applies to your plan before you go, and take advice in the new country, whose rules are its own.

Does an Aegon pension include life cover?

What happens to a pension on death depends on the plan; pension death benefits sets out the general position, and Aegon can say what applies to yours. Views on Aegon as a provider are in is Aegon any good.

Your next step

With your Aegon plan identified, an FCA-authorised adviser can weigh it alongside every other pension you hold. The call is free; use this page's form to ask for one.

Sources, read 20 October 2026: Aegon UK, Retiready Pension; Through your employer; Investment choices through the workplace (ARC, TargetPlan, Master Trust); Aegon Master Trust toolkit; Customer login; Aegon Platform support; Combine your pension pots; Your workplace pension; Aegon UK home page; Mylo press release (14 September 2025); Aegon Platform key information document (APL T379319 04/26). Aegon's documents can change.