What is it and what can I do with it ???

xylophone

On my copy from Norwich Union it states .Policy Schedule .Deferred Annuity Replacement .
Does this title make any difference?

Any difference to...?

Are you now sure that you have tracked down all pension policies that you hold with Aviva?

If so, do you have a benefit/valuation statement for each?

With regard to the "Deferred Annuity Replacement " now known as "UK Defined Benefit Sch Replacement", the question put to you (and which you have put to Aviva ?) was as to why there is no revaluation of the policy between inception and payment date.

As I have said before, I am assuming that this was in accordance with the original terms of the buy out when the occupational scheme wound up but perhaps Aviva could confirm?

thebullsback

I have resent this request for information to Aviva Today.

(a) a detailed explanation of why there is no revaluation of your pension between 1991 and 2024, as they stated in their response to you; and
(b) confirmation of any other pension policies Aviva hold for you, with a benefit/valuation statement for each. List any plan numbers you have.

atush

emailing them is not all that effective. they can always say they did not get it.

I would a- snail mail them, and I would CALL them and ask the pertinent questions.

thebullsback

Received snail mail from Aviva on Friday 11 Sept with half answer to second of my two questions and no answer at all to my first question.
I'm beginning to think that either they cant or worse still wont answer customer questions .

xylophone

half answer

What was the half answer?

thebullsback

Hi ,Today I received this email from Aviva

This Pension has a guaranteed Pension and a guaranteed minimum Pension.
The GMP has been revalued since leaving to 65 at 7.5% per annum

The guaranteed Pension is NOT subject to revaluation.It was calculated what the pension would be at retirement ,when the policy was made up.

The revaluation rates for GMP are dependent on the date you ceased to contract out.
Please accept apologies that the previous letter was incorrect and referring to escalation in payment.

Yours ......

xylophone

See my Post 85?

The GMP on leaving was indeed very small and the sum quoted is the GMP at leaving revised to age 65?

The sum for guaranteed pension is the amount set at the outset?

When you retire the GMP will increase in payment by up to 3% per annum and the guaranteed pension by 5% per annum?

Did you clarify the position with all other policies held with Aviva?

Would you benefit from seeing an IFA?

https://www.unbiased.co.uk/

thebullsback

Hi ,i have two other polices with Aviva

Taylor made GMP plan UK AVC (pre 01/92)
Transfer Value £659.98 as of Feb 2015

Also-

Pre-95 Personal Pension Plan
Transfer Value as of April 2015 £11,601.58

Also says Former Protected Rights at age 65 in todays prices Could be £ 38 per month

So that is everything I have from Aviva all gained whilest with a former employer from 1989 till 1999.
Also missing from the pot is £19,463 which I used in 2000 to buy 7.5 years in my NHS pension.

So now I know what it is ........What should I do with this lot to maximize what I could get ??
Thanks again for all your help.

xylophone

Nobody on the board can advise you what to do.

You need to consider whether to leave the policies with Aviva or perhaps to consolidate them into one plan.

Your NHS pension and state pension will form the backbone of your retirement provision so that you might want to consider a transfer for flexibility.

You have other policies as well as the Aviva collection.

Why not see an IFA who can look at the whole picture and perhaps find the optimum solution in your circumstances?

thebullsback

So much thanks to you ALL for your help on this especially nielvw and xylophone .You people are awsome.
Also thanks to Aviva Social for your help.
Thank you