Aviva Australia today announced new online technology that will enable advisers to set up pension accounts within 10 minutes and payments for their clients in as little as three days.
Aviva Australia today announced new online technology that will enable advisers to set up pension accounts within 10 minutes and payments for their clients in as little as three days.
This new functionality will revolutionise the set up process for typical transition to retirement strategies, making it simpler and easier than ever before.
In the past, customers of some platforms have waited up to 60 days to start receiving their payments due to difficult set up procedures and manual processing delays.
Advisers using the new transfer technology will pass on the benefits to their clients. Especially those who need fast access to their pension payments and are not prepared to wait for months.
Simon Dowd, general manager - financial planning from R Financial Educators has already embraced the technology.
"Aviva's online superannuation to pension transfer facility will save countless hours of administration within our organisation. The online transfer of assets from superannuation to pension is a complement to Aviva's existing suite of straight-through processing."
Aviva was the first platform to offer Transition to Retirement (TTR) in 2005 and today has taken the process to a new level by adding fast online transfers. Advisers can utilise straight through processing to set up pension accounts and submit a full or partial transfer from the superannuation to a pension account in 10 minutes.
Aviva's n-link technology is online adviser software that links an adviser's office to Aviva's products and administrative system.
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For more information:
Tim Cobb
General Manager Marketing and Public Relations
Phone: (03) 9829 8509
Mobile: 0418 529 387
Ariana Alvarenga
Public Relations
Phone: (03) 9829 8985
Mobile: 0418 300 757
Notes to editors:
About Aviva
We are the Australian face of the global Aviva group - a world leader in financial services.
Aviva is the world's fifth-largest insurance group and the largest insurance services provider in the United Kingdom. We are the leading provider of life and pension products in Europe and are actively growing our long-term savings businesses in Asian markets, the USA and Australia.
We have premium income and investment sales of $103.35 billion and $764.66 billion of assets under management. Our 59,000 employees serve over 40 million customers.
Aviva has over 150 years of continuous operation in Australia, where our main activities are life insurance, investments and superannuation.
Aviva's consistent record of innovation in the financial planning market dates back to the early 1990s when its Navigator technology and platform first allowed a range of investments to be consolidated into one portfolio. Today, Aviva continues to lead the industry with award-winning wealth creation and wealth protection products.
Together with Portfolio Partners, a funds management company which is also part of the Aviva group, we manage or administer more than $27 billion in funds for more than 300,000 customers.
*Figures quoted are at 31 December 2007 and in Australian dollars.
Disclaimer
This news release has been provided on the basis that it is only for the information and exclusive use of the particular person to whom it is provided by Aviva (Aviva Australia Holdings Limited ABN 38 095 045 784 and its related companies). While Aviva believes the information in this news release is accurate which in some cases has been provided to us by third parties, Aviva is not making any representation as to the accuracy, reliability or completeness of the information in the news release. Neither Aviva, nor its directors, officers or employees will have any liability to you or any persons resulting from your use of the information in this news release.
The information in this news release is of a general nature and has been prepared without taking into account any person's particular investment objectives, financial situation or particular needs. Applications to invest in a financial product issued by any company within the Aviva group must be made by completing the application form attached to or accompanying the applicable Product Disclosure Statement which is available from Aviva or your financial adviser. Aviva does not receive any remuneration in relation to the provision of the information available from this news release which is of a general nature only.