Aviva has matched more than A$1.7 million in lost super monies on behalf of its Navigator Business Super members.
Aviva has matched more than A$1.7 million in lost super monies on behalf of its Navigator Business Super members.
Aviva's general manager marketing and public relations, Tim Cobb, said that this added service has been a great success for members.
"Business Super members have benefited in consolidating their super, and their advisers have increased their funds under management. To date the figure is A$1.725 million and this number is increasing daily as more rollover requests are received," he said.
"Our proactive stance has reaped rewards with hundreds of fund members receiving lost super amounting to an average of A$2,000. In one case, a member found over A$30,000 of lost super!"
The matching searches are undertaken by Aviva providing specified details of members to the ATO, which they use to "SuperMatch" against their Lost Members Register. If "lost" superannuation is found in a member's name, Aviva then sends the member a letter which outlines their option of rolling it into their existing superannuation account.
"Through this free initiative, Aviva is enabling Business Super members to keep better track of their investments, saves them paying multiple sets of fees to multiple providers, and enables their money to work harder for them," Tim said.
Following the success of this initiative, Aviva is looking to extend this service to personal super clients in the future.
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For further information please contact:
Tim Cobb
General Manager Marketing and Public Relations
Phone: (03) 9829 8509
Mobile: 0418 529 387
Notes to editors:
- Aviva Australia is a group of two specialist financial services companies: Navigator Australia Limited and Norwich Union Life Australia Ltd. Portfolio Partners is the Australian funds management arm of Aviva plc ("Aviva"). Through these companies we provide products and services in the areas of wealth creation and wealth protection for more than 300,000 customers throughout Australia.
- Aviva is one of the leading providers of life and pensions to Europe with substantial positions in other markets around the world, making it the world's fifth largest insurance group based on gross worldwide premiums at 31 December 2006.
- Aviva's principal business activities are long-term savings, fund management and general insurance, with worldwide total sales* of £41.5 billion at 31 December 2006 and assets under management of £377 billion at 30 June 2007.
* Based on life and pensions PVNBP, total investment sales and general insurance and health net written premiums including share of associates' premiums.
- The information in this document reflects Aviva Australia Holdings Limited (ABN 38 095 045 784) and its related entities understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. The information given in this document is of a general nature and has not taken into account the investment objectives, financial situation or particular needs of any particular person and it is not a substitute for professional advice. Applications to invest in a financial product issued by Aviva, or any of its related entities, must be made by completing the application form attached to the applicable Product Disclosure Statement ("PDS"). A PDS is available from Aviva or your financial adviser. Before making an investment decision on the basis of the information above, a prospective investor needs to consider, with or without the assistance of a professional adviser whether the information is appropriate in the light of their particular investment needs, objectives and financial circumstances. Aviva does not receive any remuneration in relation to the provision of information available from this press release which is of a general nature only.