There will be additional savings on services for investors with more than £250,000 invested with us. The more money you invest, the larger the discounts we can offer:
Aegon charges
When you invest on Aegon, through Chelsea, there will be three separate annual fees:
- A fund management fee (typically 0.75% of your investment) which covers the investment company’s research and expertise looking after the fund, plus other costs associated with running a fund.
- A platform charge of 0.15% charged by Aegon.
- A service charge to Chelsea of 0.4%.
| Amounts between | Up to £250,000 | £250,000 and £500,000 | £500,000 and £1m | £1m and £2m | Over £2m |
|---|---|---|---|---|---|
| Aegon’s platform charge | 0.15% | 0.125% | 0.10% | 0.10% | 0.10% |
| Chelsea’s service charge | 0.40% | 0.35% | 0.30% | 0.25% | 0% |
| Total charge | 0.55% | 0.475% | 0.40% | 0.35% | 0.10% |
These charges are by ‘bands’, not the overall portfolio. So, you pay 0.55% on the first £250,000 , and then 0.475% on the next £250,000, and so on.
Example
- If you have £50,000 on account with us, you will pay £22.92 per month
- If you have £750,000 on account with us, you will pay £295.88 per month
Charges for Junior ISAs
- 0% for accounts that were opened on Cofunds (pre-Aegon) before 5 May 2018. These will remain at 0% until the child turns 18 (unless they transfer away or Aegon change their terms and conditions).
- 0.15% for Junior ISAs opened after 5 May 2018.
- Chelsea does not charge a service charge on Junior ISAs.
Holding cash
You can opt to hold your savings as cash. This is a temporary position to shelter you from the market, and should not be viewed as a long-term investment strategy.
- The Aegon platform charge of 0.15% is levied on cash.
- Please contact us for up-to-date details of the interest paid on cash.
- Chelsea do not charge a service charge for you holding cash.
How will charges be taken?
There are three separate charges: the fund provider’s fee, Chelsea’s service charge and the Aegon platform charge.
The fund provider fee will still be taken directly from each fund in a portfolio.
The Aegon platform charge and the Chelsea service charge can be taken in one of three ways:
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1
By Aegon automatically selling an amount of units from the highest-valued fund in your portfolio
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2
By Aegon automatically selling an amount of units from one fund of your choice
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3
By you putting money in your General Investment Account (GIA) to cover the charges
How to add money to hold as cash
To avoid using your ISA allowance for charges you may like to consider topping up your General Investment Account (GIA).
Please note that pension charges are taken from within the pension.
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Log in to your account and follow the instructions to top up.
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Call us on 020 7384 7300 to pay over the phone using a debit card
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Call us on 020 7384 7300 to set up a direct debit. This will collect a pre-determined sum of money each month to cover charges.
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Alternatively, you can send a cheque to our offices. The cheque should be made payable to Aegon.
Charges for Pensions
If you have a pension through Aegon, please note that there are some charges in relation to drawdown.
These can be found here:
Please note that these charges are taken by the trustee.
The Cofunds Pension Account and Aegon SIPP is now closed to new business. Please contact us to find out how to open a pension through Chelsea.
