AEGON adds extra charging options to SIPP

Previously, the product could only be sold on single priced terms. However, a GSIPP can now be set up on any of the four shapes of AEGON’s Flexi-Menu proposition, which was launched with the Group Personal Pensions (GPP) last year. These options include an Active Member Discount (AMD), offered to employees who pay regular contributions even if they leave the scheme, and a premium based charge, which is applied in the early years of the plan. Andy Marchant, managing director of corporate pensions at AEGON Scottish Equitable, says: “We still believe commission levels on mono-charged product...