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AVIVA extends deadline

25 August 2009

Earlier this year Aviva came to an agreement over a reattribution offer for its with-profits fund policyholders (see TPAS news item dated 7th of May). Aviva has now extended the deadline for its ballot to September 21.

The average payment offered to policyholders was £500. According to Aviva three-quarters of the one million votes have already been cast and 96 per cent of respondents are favour of the offer.

However Aviva Policyholder Action Group founder Philip Meadowcroft said: "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."

An Aviva spokeswoman said: "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."

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