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Aviva apologises for six month transfer

Aviva has apologised after its heritage department took six months to apply a transfer value of £134,000 to a client’s pension.

The company received the transfer value in July last year but it failed to apply the transfer until January 17 this year, after it was contacted by Money Marketing.

Aviva set up the heritage department to deal with the administration of some of the firm’s legacy business. All customers and funds held by the department are managed directly by Aviva.

Aviva says the delay was due to a problem with its administration system.

Richard Jacobs Pension & Trustee Services IFA Emily Jacobs, who lodged the complaint with Aviva, says: “I am just amazed that a company such as Aviva, who we consider to be fairly reputable in the industry, can have such administrative failings.”

An Aviva spokeswoman says: “In September, our team sent a letter of apology to the client’s IFA and confirmed that the start date would be the date the payment was received. We appreciate that there has been a delay of some months in completing this transfer and we would like to apologise to Ms Jacobs and her client for the delay and the inconvenience caused.”

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. David Trenner - Intelligent Pensions 20th January 2011 at 6:30 pm

    Insurance company with an admin problem? Whatever next? They set up a department called heritage and then we wonder why the service lives in the past.

  2. We’re currently trying to organise the in-house vesting of a client’s Aviva PP (with GAR’s) and it takes half an hour on the phone to their Norwich office get through to anybody who’s able to establish what the devil’s going on. The action then promised doesn’t materialise within the promised time frame, thus requiring further half hour calls. Dreadful.

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