The UK asset management arm of life insurance giant AEGON has said it will honour commission payment arrangements for products where the advice process has been fully completed by 30 December this year.

The Retail Distribution Review comes into force on 1 January 2013 and one of its main aspects is a ban on commission payments for advice.

Richard Dallas, marketing and transformation director at AEGON, described the announcement as a "commission guarantee". “Part of being RDR ready is helping advisors and their clients with a smooth transition to a post-RDR world," he said. "Anything that would disrupt the provision of advice as we move into 2013 would be bad for customers."

The firm is already applying advisor charging through its platform, launched in November last year.