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Aviva to stop admin services for 200 DB schemes

Aviva will stop providing in-house administration and actuarial services to the 200 defined benefit schemes working with its Norwich office from June next year, Money Marketing can reveal.

The schemes are part of a closed-book of business with the last new scheme taken on in 2012.

Aviva says it wrote to the trustees of the affected schemes at the end of June and is working with them to ensure a smooth transition to a new provider.

The schemes have until next June to either appoint their own provider or to go with the provider Aviva has identified for them.

No redundancies are planned for the 42 employees who do the work as they will be offered alternative roles within Aviva.

Aviva will continue to provide administration and actuarial services for existing DB schemes from its Bristol office.

Aviva has approximately 5,000 staff at Norwich, the head office for general insurance and life employees including the frontline staff who answer queries about pensions.

A spokeswoman for Aviva says: “We believe trustees could benefit from being served by specialist providers who can offer the advantages of specialism and scale in this market.

“We will work with the trustees of pension schemes affected by this decision to ensure a smooth transition to a new provider.

“While we have identified a suitable alternative provider which we have presented to trustees, they are welcome to choose their own. We believe this is the right thing to do to help support our customers.”

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