Marvin OnumonuAegon has introduced ‘Family price match’, allowing workplace pension members to share pricing benefits with up to five family members or friends.
By using a code from the Aegon UK app, family and friends can open an Aegon stocks and shares ISA at the same service charge rate as the workplace pension saver.
Those opening a new Aegon stocks and shares ISA could save money over time.
For example, if the family price is 0.25% less than elsewhere, a £20,000 ISA investment could be worth an extra £294 after five years or £720 after 10 years.
With a 0.50% difference, the investment could grow by an extra £591 after five years or £1,455 after 10 years.
Nick Roy, commercial director of workplace at Aegon, said: “Aegon’s Family price match is an offering to our members and their loved ones, making saving more cost-effective.
“This means five family or friends can enjoy the same service charge, when they purchase a stocks and shares ISA, that is available to members of an Aegon workplace pension scheme.”
Roy added: “This initiative exemplifies the great power of Workplace pensions to offer competitive charges and aims to extend these benefits on a wider scale.
“We are focused on enhancing pension scheme members savings and retirement outcomes in our proposition. Family price match is another step forward in that journey.”
