Pensions - Articles - Aviva's new 'signature free' application process


Following the launch of its consumer savings platform (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.

     
  1.   Signature-free applications for ISA and pension transfers
  2.  
  3.   Reduces transfer times from six to three weeks
  4.  
  5.   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.” 

Back to Index


Similar News to this Story

Latest earnings figures set minimum for state pension rise
Office for National Statistics announces year on year earnings growth for May to July as 4.7%. This is one of the three possible figures that will det
State pension set to rise by at least £561.60 from April
Standard Life and Broadstone comment as average earnings likely to determine next April's state pension uplift under the triple lock. Pensioners
DB to DC transfers continue to fall in 2024/25
The retirement income market data 2024/25 from the FCA shows that the number of Defined Benefit (DB) to Defined Contribution (DC) pension transfers co

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.