Aviva Australia has acted to ensure that tens of thousands of self-funded retirees will receive their regular pension payments this Christmas despite the fund freeze across much of the mortgage sector.
Aviva Australia has acted to ensure that tens of thousands of self-funded retirees will receive their regular pension payments this Christmas despite the fund freeze across much of the mortgage sector.
Customers with investment and pension accounts will continue to receive regular income payments throughout 2008 regardless of fund suspensions. This is a pro-active decision to minimise the impact of the announcement by several major mortgage funds to limit or suspend redemptions. The decision will help tens of thousands of customers including investors, self funded retirees and self managed super fund members.
Mr Frank Lombardo, Aviva group director operations, said: "Our customers should not have to go cap in hand to Centrelink. They've worked hard to fund their retirement and we are committed to meeting their needs."
"There have been lots of discussions about the issues facing retirees but we take the view that when our customers are worried we need to act now to find solutions for them. We can reassure customers that they will get their regular pensions this Christmas," said Mr Lombardo.
"This announcement covers all Aviva products with holdings in external funds that are affected by the current ‘freeze' issues. We are continuing to review the situation to minimise the impact and we still need to find a solution for a handful of customers," said Mr Lombardo.
Mr Lombardo is available for interview.
-ends-
For more information:
Sue Voglis
Research & Public Relations Manager
Phone: (03) 9829 8057
Mobile: 0408 309 247
Tim Cobb
General Manager - Marketing & PR
Phone: (03) 9829 8509
Mobile: 0418 529 387
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.