These changes, which will be implemented over the next 18 months, follow the integration of BlackRock’s defined contribution business in July.
Aegon says the improvements to TargetPlan (the BlackRock proposition) will focus on member engagement, wider savings, improved governance and digital communications.
The specific enhancements include a new simpler digital user interface, to facilitate better member experience and enable targeted communications.
Aegon is also introducing SmartGovernance – a data-driven personalised workplace governance capability that analyses scheme performance providing actionable insights.
It addition, it is widening its range of savings products starting with ISAs and GIAs.
Aegon’s chief distribution officer Ronnie Taylor says these improvements follow feedback from employee benefit consultants and clients.
He adds:“Aegon is now primed to maximise the best of both the former BlackRock DC and Aegon propositions, servicing distinct elements of the market offering the full suite of Master Trust, Own Trust, Investment Only and broader workplace savings solutions to trustee and corporate clients.”
