Charges guide. We ve designed One Retirement around a transparent, customer-focused charging model.

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1 For customers One Retirement Charges guide We ve designed One Retirement around a transparent, customer-focused charging model. This means you ll be able to see exactly what you re paying for, with clear and transparent charges. Most charges will be taken from the cash facility of each of your wrappers however some charges aren t. Fund charges aren t deducted from the cash facility as these are usually included within the fund price. We ll only deduct fund charges from the cash facility if the fund provider instructs us to. Your adviser will be able to tell you if this applies to any of your investments. If you hold Secure Retirement Income (SRI) investments in an Aegon SIPP wrapper we deduct certain charges from those investments. These charges are deducted directly from the investment by selling sufficient units to cover the charge amount due. We ll keep 0.25% of the value of your non SRI investments in your cash facility to cover any charges. It s your responsibility to make sure that your cash facility contain enough money to cover all relevant charges that are deducted from the cash facility. If there s not enough money in your cash facility to meet any charges due we ll automatically sell some investments, starting with the largest liquid asset. No SRI investment will be included in any automatic sell of investments to pay any charge due from the cash facility of an Aegon SIPP. This guide shows you what the charges could be for One Retirement. Your financial adviser will give you a personal illustration detailing the charges that apply to your account. This will be saved to your One Retirement personal document library if you want to refer to it in the future. We might vary these charges at our discretion. Clear charges so you know exactly what you re paying for

2 Overview of charges With One Retirement there are three types of charge: One Retirement charges These are to cover the cost of administering your One Retirement account. These also include the charges we take if you choose to invest in SRI. Fund charges These charges cover the cost of managing investments and checking they re performing as expected. They ll vary depending on the assets chosen. The fund charge is sometimes called the ongoing charges figure (OCF). Adviser charges This is a charge for the advice given to you, and is agreed between you and your financial adviser. One Retirement charges Annual charge We ll deduct your annual charge monthly, based on your fund value on the last business day of each month, to cover the cost of administering your account. We ll take this on or around the first business day of the month. Our simple charging means, for any funds below 250,000 we ll deduct a charge of 0.3%. If your fund is 250,000 or over you ll not pay an annual charge on this part of your fund. So the higher your fund value, the less your annual charge as a percentage will be. Fund value First 249, % Then 250,000 and over Annual charge percentage For example, if you had a fund value of 350,000, we d calculate your annual charge as follows: the first 249,999 at 0.3%; and the next 100,001 at 0%. Nil

3 This means that the maximum annual charge you ll pay is 750 the total overall amount you pay will depend on your total fund value. If you have any investments in SRI, we only deduct the annual charge from the value of any investments that aren t invested in SRI. We do this firstly by calculating the annual charge based on the total value of your One Retirement account. We then calculate the percentage that the annual charge amount represents based on the total value of your One Retirement account. This percentage is then applied to the value of the investments that aren t invested in SRI to calculate how much to deduct from your cash facility. For example if your total fund value was 350,000 and 100,000 of this was invested in SRI, the percentage would be 0.214% ( 750 divided by 350,000 multiplied by 100). This percentage is applied to the value of the investments not invested in SRI, 250,000, which gives an annual charge of 535. To calculate your monthly charge, we simply divide your annual percentage charge by 12. Income drawdown fee We ll charge 75 a year if you take income from the drawdown part of your One Retirement account. This charge will be set up when your first drawdown pension payment is made, and will apply yearly after that to cover ongoing administration. If you don t take any drawdown income in the 12 months since your last drawdown pension payment, we won t apply this charge. It will become payable again when you restart taking drawdown income. If you have more than one drawdown element in your One Retirement account as a result of more than one drawdown to drawdown transfer, for example, we ll apply a single yearly charge of 75, which we ll split proportionately across all drawdown elements that you re taking income from. No drawdown fee will apply to a drawdown wrapper that contains only SRI investments. However the fee may apply if that wrapper contains any cash not ringfenced for payment as drawdown income. SRI charges If you purchase a SRI investment we deduct charges from the investment to cover the costs of administering the investment, the product charge, and to provide the SRI benefits selected, the guarantee charge. If you hold more than one SRI investment in your Aegon SIPP each investment will be held in its own SRI account. The charges applying to a particular account are determined based on the terms in force at the date you applied for the investment. The following charges reflect the current terms for new Secure retirement investment applications. Product charge The yearly charge is 0.30%. We deduct this charge monthly based on the fund value of the SRI investment. We ll sell sufficient funds from the investment to cover the calculated charge amount each month.

4 Guarantee charge The annual charge is dependent on the fund and the SRI benefits selected. The charges below are the yearly rates. Aegon SRI Managed Volatility Conservative Aegon SRI Managed Volatility Cautious Deferred and single life with no GMDB Deferred and single life with GMDB Joint life 0.90% 1.15% 1.15% 1.15% 1.55% 1.55% We deduct this charge monthly based on the Income Base value of the SRI investment. We ll sell sufficient funds from the investment to cover the calculated charge amount each month. If you invest in SRI and don t start the income straight away your account will be on a Deferred income basis. The initial yearly charge will therefore be dependent on whether you select the Guaranteed Minimum Death Benefit (GMDB) when you apply for the SRI investment. On starting income from the SRI investment, if you select the Joint Life income option the charge will then move to the Joint Life guarantee charge appropriate to the fund you re invested in. Fund charges These charges cover the cost of managing investments and checking they re performing as expected. They ll vary depending on the assets chosen. The fund charge is sometimes called the ongoing charges figure (OCF). You can find out which assets are available, and what their associated charges are on our website aegon.co.uk/support/fund-pricesand-performance.html Stockbroker fee A 15 fee will apply to every trade of company shares, gilts and investment trusts placed through your One Retirement account. This fee will apply to any sell, and will be taken from your cash facility at the time of the trade. Aggregated stockbroker fee A 10 fee will apply to every sell trade of exchange-traded funds placed through your One Retirement account. This fee will apply to any sell, and will be taken from your cash facility at the time of the trade. Company shares, gilts, investment trusts and exchange traded funds are no longer available to buy.

5 Adviser charges You and your financial adviser will agree how much you ll pay for the advice they give you. Adviser charges will be taken as either a percentage or monetary amount from your cash facility, depending on what you ve agreed with your financial adviser. When they apply, they ll be shown on your personal illustration. Where you hold SRI investments within an Aegon SIPP, the value of those investments may be included in calculating the amount of the charge due. However, we will never automatically sell those investments to pay any adviser charges. There are three ways in which adviser charges can be set up. Initial This is a payment based on a percentage of the value of your contribution/transfer or specified monetary amount. You and your financial adviser can agree the level of initial adviser charge. If requested for regular contributions, the duration of payment can be specified up to a maximum period of 36 months. We ll deduct the payment monthly from your cash facility. However, if there isn t enough money in your cash facility to meet the payment we ll automatically sell some investments, starting with the largest liquid asset. For single contributions and transfers, we ll take this from your cash facility before your contribution is invested in your selected assets but after basic-rate tax relief has been included, where relevant. If you re moving straight into drawdown and taking tax-free cash, we ll take this from your cash facility after we ve paid your tax-free cash and taken any relevant excess lifetime allowance charges. Your financial adviser will be able to tell you if an excess lifetime allowance charge will apply to you. Ongoing This is a payment based on the value of the savings and drawdown parts of your One Retirement account (if paid as a percentage), that s made to your financial adviser. It can be taken monthly on a fixed amount or percentage basis. Quarterly payments are restricted to fixed amounts only. You and your financial adviser can agree the level and frequency, and it can be reduced or increased in the future, as required. Ad hoc This is a lump sum payment made to your financial adviser, as and when a request is made, based on the agreement between you and your financial adviser. For more information about the charges that apply to One Retirement, please speak to your financial adviser. We re proud to be the Aegon is a brand name of Scottish Equitable plc. Scottish Equitable plc, registered office: Edinburgh Park, Edinburgh EH12 9SE. Registered Lead Partner of British Tennis. in Scotland (No ). Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register number An Aegon company Aegon UK plc. RET /16