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Signature-free applications for ISA and pension transfers
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Reduces transfer times from six to three weeks
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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.”
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