FOLLOWING THE LAUNCH OF ITS CONSUMER SAVINGS PLATFORM IN JUNE 2015, AVIVA IS ONE OF THE FIRST PROVIDERS IN THE MARKET TO INTRODUCE A ‘SIGNATURE FREE’ ONLINE APPLICATION FOR CUSTOMERS LOOKING TO COMBINE THEIR PENSION OR ISA SAVINGS INTO ONE ACCOUNT.
- Signature-free applications for ISA and pension transfers
- Reduces transfer times from six to three weeks
- Simple, straightforward online process to consolidate savings in one place
This new development is designed to make the online process as streamlined and straightforward as possible; reducing the number of steps taken to apply online and ultimately cutting the transfer process time in half, from six to approximately three weeks.
Coupled with the existing Aviva transfer tracker, which allows customers to track the progress of their ISA or pension transfer online, this now makes the overall transfer process one of the easiest in the industry.
Rodney Prezeau, Consumer Platform Director at Aviva said:“Evidence suggests that customers with a larger amount of money in one pension pot are more likely to engage with their savings than those with various small pots in different places. We want to make it as quick and easy as possible for customers to transfer their old pensions and ISA funds into one place, allowing them to manage their money and give it the best chance to grow.
“Our online investment platform aims to give customers comprehensive yet easy-to-use options for managing their finances in one place. Our new ‘signature free’ transfer option offers customers, who are confident about their choices, the ability to manage their financial decisions themselves. It also provides them with comprehensive educational tools to support them along the way.
“We’re all living longer so it’s crucial that we help people to save smarter if they want to achieve their dream retirement. Unfortunately, the UK’s current savings ratio is at a fifty year low but it’s never too late to start saving, and by combining those savings, engagement levels become much higher.
“Of course we would always strongly recommend that customers obtain full personal advice before making major decisions about their retirement to ensure that it’s appropriate for them and their individual circumstances.”
Aviva customers looking to transfer their pension to their Aviva account should go to: www.aviva.co.uk/pension or ISA savers go to www.aviva.co.uk/ISA
Ends
If you are a journalist and would like further information, please contact: Fiona Whytock Aviva Press Office: 01904 452659: 07800 692299: fiona.whytock@aviva.com
Notes to editors:
• Aviva launched its direct-to-consumer online platform in June 2015 to support customers who want to self-manage their investments in a simple and efficient way, particularly as they plan for their retirement. It is also supported by a range of useful information on saving and investing for the future, including videos, interactive tools and useful budget calculators, like My Retirement Planner, which estimates the future value of people’s personal pension plans and how much income these may provide in retirement; and a Life Expectancy Calculator, which gives an estimated life expectancy and length of retirement to help people plan ahead to make their money last.
• Aviva's consumer platform was recently awarded Lang Cat's ‘Best for Beginners’ award (for beginning investors).
• Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers, across 16 markets worldwide
• In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.
• Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £289 billion in assets.
• Aviva helps people save for the future and manage the risks of everyday life; we paid out £30.7 billion in benefits and claims in 2015.
• By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.
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