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
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."