Aviva Pension Reviews - www.aviva.co.uk

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Summary

Norwich Union pensions are now known as Aviva pensions in the UK.


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Aviva Pension www.aviva.co.uk
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Aviva Pension www.aviva.co.uk
Aviva Pension www.aviva.co.uk

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★☆☆☆☆

“I agree with the first review. Given the regular...”

Written on: 15/01/2008

I agree with the first review. Given the regular inputs, and the fact that on most of those contributions 40% tax was added, its amazing that in 07-08, the net increase on a 25k plan value was £150. Stick your money in property not pensions… Read Full Review

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★★★★★

“Ok, been self employed since 1976. In 1988 took...”

Written on: 27/11/2003 by AWG (48 reviews written)

Ok, been self employed since 1976. In 1988 took Accountant's advice (before new FSA regulations came in) to open a Private Pension. My wife did the same in the mid-90s with Scottish Amicable. Now we are just small self-employed people and between us saved a couple of hundred pounds or so a month towards retirement. In early 2003 we realised that our Pension Funds were not making anything, because of low interest rates (when I first started with the Norwich it gave an 'assumed growth' of 14% or… Read Full Review

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Awg's Response to AWG's Review

Written on: 28/11/2003

Follow up from AWG. By coincidence, the day after making this review and it being approved I received a letter from: Retirement Pension Forecasting Team, The Pension Service, Whitley Road, Newcastle Upon Tyne. This obviously is an attempt by Government to get people into providing for themselves before it's too late. If I were 11 years older and entitled to State Pension I'd receive £82.23p. per week. Thanks a lot!! Also enclosed was a booklet "Pensions for the Self Employed - Your Guide". This is encouraging people to save for retirement either via a Stakeholder or Personal Pension Scheme. Well you've seen what our Personal Pension Scheme has returned - so I'll let you make up your own mind! Ok, we all need to do SOMETHING. We have invested in prime rental property which will give us a reasonable retirement pot. But isn't it about time that Great Britain FACED UP to the fact that to provide a real State Pension like many European Countries, that retired people can live on in dignity, - a proper level of taxation must be applied across the board whether the electorate likes it or not? Labour has realised we need to PAY for a proper Health Service (although where the extra revenue will go I dread to think!), - so how about also facing up to the Pensions crisis? I've said all I'm going to say now, and I welcome intelligent debate within this site.

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192591_Rfm's Response to AWG's Review

Written on: 09/05/2005

I too have been subject to Norwich Unions bungling mis-management of funds, being led to believe in 1987 that I would be as they said in their advert "better off the Norwich Way" .. I would have been better off putting my money on a 3 legged horse, money by the way which represented 20 years of pension subscriptions, I am absolutely disgusted with the way I have been treated by this company, they don't give a toss about your hard earned money, I bet the executives are not treated in the way their customers are. As it is young people have got their heads screwed on a bit better than I had, I who can blame them for keeping clear of pension companies...my advice to anyone remotely thinking of taking out a pension with NU...is TELL THEM TO STICK THEIR PENSION PLAN.

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185720_Alanp's Response to AWG's Review

Written on: 18/03/2005

When the company decided to open a pension scheme I was delighted. The scheme was with NU and they advised that I transfer my existing pension schemes into the NU, which I did. As a 52 year old (at that time) I also contributed vast amounts in during the first year to build up the pension fund. To my dismay the amount in the fund reduced by over 14,000 pounds in the first year (2002). NU claimed it was because I had invested in the poor performing areas of their portfolio. So I changed to a less riskier fund and reduced my investment to the same amount as my company invests (3% of salary) which is not much. In the meantime I have now invested in property and shares. The rises in property values have far outstripped any other investment. My point is how come NU allow poor performing funds to continue thus losing it's investors vast sums?. Because of the bad peformance by NU, my company is in the process of changing from NU to another pension company but lets face it, who cares - it seems to me that all pension funds are a complete waste of time and cause emense stress and hassle. I feel that there are safer ways to invest your money where one can maintain control. So when planning for a dignified retirement, research the market and above all, think of number one because none of this lot will.

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Awg's Response to AWG's Review

Written on: 12/11/2004

Well, the property investment venture worked out for us. We bought in 2000 and sold in July 2004 actually doubling our money, so I guess that made up for the disappointment of Private Pensions.
<br>
<br>It is now November 2004 and I'd advise putting large sums into Mutual Building Society time locked Bonds. Also Premium Bonds DO give a return on reasonable investments of say £8,000 or over. Otherwise go for one of these regular savings plans that pay you around 7% per annum at time of this posting. But if you are of pre-1965 vintage, unless you are loaded, beware Private Pension funds.
<br>
<br>Happy Saving!

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Dareag's Response to AWG's Review

Written on: 03/02/2004

I agree with the review about a small contribution to a fund being useless.
<br>It would nice to find the best available alternative.

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