Pension provider Aegon has partnered with offshore bond provider Utmost Wealth Solutions Ireland to enhance its Financial Planning solutions, it said.

Utmost Wealth bonds will be available through the Aegon Retirement Choices general investment account.

Aegon said the move would support the advice community by offering tax planning solutions for clients.

Aegon said that by broadening offshore bond access, it aimed to empower advisers to navigate the new tax landscape, following announcements in last autumn’s Budget. The firm said access to offshore bonds would allow advisers to create optimised plans which align with their clients’ evolving needs.

The new link is in addition to an existing partnership with Canada Life International Isle of Man.

Aegon said advisers can use the general investment account on the Aegon Retirement Choices platform to access its centralised investment proposition to invest clients' money.

The firm said offshore bonds were gaining traction because of recent capital gains tax changes, income tax thresholds remaining frozen until April 2028, and the extension of inheritance tax to pensions from April 2027.

The tax changes were part of the Chancellor's Autumn Budget announcements last October, impacting wealth management and succession planning strategies, the company said.

Stephen Crosbie, head of retail at Aegon said: “During last year’s strategy teach-in we announced our plan to become the leading digital retirement and investment platform, and our aim to support the advice community.

“This includes providing them with efficient tax planning solutions, especially for clients in their ‘Second 50’ and beyond."

He promised enhancements to the firm’s Financial Planning platform such as the addition of more offshore bond partnerships, a Junior SIPP and Junior ISA.