View more on these topics

Aviva extends reattribution deadline

Aviva has extended the deadline for its ballot on the reattribution of its inherited estate by a month to September 21.

In May, Aviva and policyholder advocate Clare Spottiswoode renegotiated a deal for the firm’s inherited estate which would see payments to policyholders slashed in half.

The average payment offered to policyholders was £500 when the voting kicked off in June compared with the £1,000 offered under the original deal.

Aviva says three-quarters of the one million votes are already in, with 96 per cent in favour of the offer.

But Aviva Policyholder Action Group joint founder Philip Meadowcroft has slammed the firm for moving the voting deadline to after a court hearing, scheduled for September 14, where by a judge will either approve or disprove the offer.

He says: “This is shambolic. Three-quarters of a million people voted according to the deadline without knowing the outcome of the September hearing and they feel that they have been cheated because they could have waited longer and made a more informed choice. This is a banana skin thrown down.”

In June, the action group brought to light the fact that a large chunk of policyholders – around 250,000 – were unlikely to get their information packs before a series of reattribution roadshows kicked off.

An Aviva spokeswoman says: “We believe our offer is good value for over 99 per cent of customers and we are confident that customers have all the information they need to make a choice.

“Aviva has so far received a response rate of over 75 per cent from eligible policyholders. As a result we’ve made arrangements to accept votes through September so that any remaining eligible policyholders don’t miss out on this deal.”


GP IFAs are what doctor ordered

The RDR is almost entirely about the distribution of new products but advice on existing products is the crucial niche that the average general practitioner IFA fills so valuably.

CanLife offers protected gold fund from Julius Baer

Canada Life International has teamed up with Julius Baer to provide its investors with a capital protected fund that is linked to the Julius Baer physical gold exchange traded fund.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm