In the first week of collection of applications for Pillar II, Aviva received questions on its official website, www.aviva.ro, from 27,000 people. As a result, Aviva has updated its website on a daily basis to answer the most important questions received, but also to invite visitors to the website to continue sending in their questions.
In the first week of collection of applications for Pillar II, Aviva received questions on its official website, www.aviva.ro, from 27,000 people. As a result, Aviva has updated its website on a daily basis to answer the most important questions received, but also to invite visitors to the website to continue sending in their questions. The results are surprising and demonstrate that the buzz surrounding pensions has generated a genuine need for Romanians to receive information about Pillar II and about what they need to know before making a choice about their mandatory pension.
The five most frequently asked questions are as follows:
- 2,534 people asked: "Why should I choose one company and not another?"
- 2,156 people asked: "How can I calculate the value of the pension that I will receive?"
- 1,906 people asked: "What are the charges for a pension fund?"
- 1,548 men asked: "If I choose a private pension, do I lose my state pension?" and
- 1,283 men asked: "Why are those aged 35 and under forced to take out a private pension?"
Over 400 questions received from visitors were recorded on the website's "Questions and Answers" section, and Aviva posted replies to the 50 most frequently asked questions.
Shah Rouf, CEO of Aviva Romania commented: "In the campaign to collect applications for Pillar II, Aviva is concentrating on informing the customer in as much detail as possible of the benefits offered by the pensions reform. The results obtained in the first week show that many Romanians choose Aviva as the administrator for their private pensions because of, amongst other things, the quality of the information provided by our marketing agents. We have over 30,000 authorised and very well-trained marketing agents, who have the best materials on the market available to assist in providing advice to their customers. These materials have been designed in order for customers from Romania to be able to find the answers to three essential questions: What does this pensions reform mean? Why take action/choose? Why choose Aviva?"
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For further information:
Giliola Ignat
Marketing Manager - Advertising & PR
Telephone: 0723 310 378
E-mail: giliola.ignat@aviva.ro
Note for editors:
Aviva is the leading European provider of life insurance and pensions and one of the first administrators licensed for voluntary pensions, on 17 May 2007, and on 21 August 2007 for its mandatory pension fund. Aviva was the first administrator of a pension fund in Romania to have registered its participation in the new mandatory private pension products at 00.01 on 17 September 2007.
About the Aviva group
Aviva is the oldest insurance group in the world and the largest in Great Britain, dating back to 1696. Today, Aviva has 59,000 employees and 40 million customers in 27 countries across the world.
Aviva is the market leader for life insurance in Europe.
Aviva has revenue from insurance premiums and investments totalling 61 billion euros and administers over 535 billion euros' worth of funds.*
Aviva Romania
Aviva Romania includes three companies:
- Aviva Life Insurance
- Aviva Administration Company for a Private Pension Fund
- Certinvest (purchased on 13 September 2007, subject to final approval)
About Aviva Life Insurance and Aviva Administration Company for a Private Pensions Fund
Aviva began operating as a provider of life insurance in Romania in 2000 (Aviva Life Insurance SA) and currently insures over 400,000 Romanians.
In August 2007, Aviva received approval from the Oversight Committee for the System of Private Pensions to set up a company to administer private pensions (Aviva Private Pensions Fund SA)
About Certinvest
Certinvest currently administers 24 million euros in 4 mutual funds, each of them based around a different type of investment: Intercapital - a shares fund, Capital Plus - a balanced fund, Orizont - a fixed-income (bonds) fund and Tezaur, a capital market fund. Certinvest also administers individual investment accounts for high-earning customers.
Certinvest has shown throughout the years that it is one of the most dynamic and innovative administrators in the market. The company launched the first commission-free sales fund on the Romanian market (Tezaur) and the first bonds fund in Romania (Orizont). Certinvest is also proud to support the bull market for investment funds in Romania.
About Pensia Viva
Aviva's first mandatory pension product ‘Pensia Viva' offers one of the lowest asset administration and investment administration fees on the private pensions market. Aviva charges a fee of 2.5% for each contribution before it is converted into units in the fund, and what sets Aviva apart from other administrators in 2008 is the fact that it will not charge any administration fee on participants' assets. From 2009 the monthly administration fee will be 0.05%. These are amongst the lowest fees on the market.
The investment policy of the Pensia Viva Product fund
The investment policy of the Pensia Viva Product fund, administered by the Aviva Company consists of a mixture of prudent and balanced investments.