Insurer Aegon has introduced an account for the ‘levensloop’, or life-course scheme, which offers the possibility of saving as well as investing, it said.
Besides the savings variant, participants can have their levensloop balance invested, with or without the deposit guarantee, Aegon added in a statement.
One of the investment possibilities developed by the insurer, offers participants a choice - fitting within his risk profile - from Aegon investment funds. Participants can order purchases themselves, or can commission to automatic investment based on a set ratio.
At ‘profile investing’, the insurer assists in managing the investment portfolio. Clients can select from four different risk profiles, in which Aegon will invest with decreasing risk as the end date approaches, it explained. In addition, participants can insure themselves against losing their deposit.
Aegon’s clients will be able to monitor and manage their levensloop accounts via the internet. The insurer will offer the product via both employers and its intermediaries.
According to Aegon, a survey has indicated that most of the workers want their employer to offer them a collective levensloop scheme, and that 48% of those questioned will - either probably or definitely - use their levensloop account for early retirement. Only 31% has other purposes in mind, eg, a sabbatical or care leave.
Recently, the Dutch Association of Insurers has accused the large pension funds ABP and PGGM of unfair play, because of their active marketing of the levensloop products of their subsidiary companies. The market of levensloop products is estimated at €2bn a year.