The proposals, process and timeline for your clients
Useful information for advisers about planned changes to the business that will help us move to a single brand from October 2017.
At a glance
The proposals in brief
Although Friends Life is already part of Aviva, we’re proposing to transfer the businesses of Friends Life Limited and Friends Life and Pensions Limited to Aviva Life & Pensions UK Limited. At the same time, the roles of scheme administrator and scheme operator of the Friends Life Flexible Retirement Account will transfer to Aviva Pension Trustees UK Limited.
We are also proposing to transfer the annuity business of Aviva Investors Pensions Limited to Aviva Life & Pensions UK Limited. These business transfers are between companies within Aviva and will follow a specific legal and regulatory process.
If important business transfers take place, Friends Life will move to the Aviva brand in October 2017.
The three business transfers
Why we are doing this
The aim is to:
- create a simpler structure for the Aviva group of companies; and
- to make more efficient use of our capital.
Aviva already has the strength of deep financial reserves combined with size, scale and depth of experience in the markets it chooses to operate in.