Transferring our business to Aviva
Summary of our proposals
Friends Life is now part of Aviva and we’re proposing to transfer all the policies, assets and liabilities of Friends Life Limited and Friends Life and Pensions Limited to Aviva Life & Pensions UK Limited.
This does not include the roles of scheme administrator and scheme operator of the Friends Life Flexible Retirement Account which will transfer to Aviva Pension Trustees UK Limited.
At the same time, Aviva is also proposing to transfer the annuity business of Aviva Investors Pensions Limited to Aviva Life & Pensions UK Limited.
If the transfers are approved by the courts, they will take place on 1 October 2017.
We will also be moving to the Aviva brand from when the transfers take place.
Please read all the information we’ve sent you and made available on this website so you understand what we are doing and what it means for you and your policy.
If, after reading this, you believe you will be adversely impacted by our proposals or have any further questions please call us on
(+44) 01603 605555.
What do the proposed transfers mean for you?
The transfers follow a legal process to simplify our business. If the court approves our proposals, we will change the provider of your policy to Aviva Life & Pensions UK Limited. If you have a Flexible Retirement Account we will change the terms and conditions of your policy to reflect changes to certain roles currently carried out by Friends Life and Pensions Limited. You can find more information about this in the questions and answers
The transfers will have no effect on:
• the way your policy works, including the way we invest the funds backing your policy;
• any payments you make or receive under the terms of your policy;
• the way you contact us; or
• the terms and conditions of your policy, except if you have a Flexible Retirement Account.
A process designed to help protect your interests
To make sure that you are protected and not unfairly disadvantaged, we must follow a set process before the transfers can take effect. This includes:
• giving policyholders notice of the transfers and an opportunity to object;
• making you aware that you have an opportunity to object and make representations at a court hearing if you believe you will be adversely impacted by the transfers;
• consulting our industry regulators;
• a detailed review by an Independent Expert; and
• approval by the courts in London, Jersey and Guernsey.
You can find copies of the Independent Expert’s report, the scheme documents and other court documents in our document library.
What is the timeline for the transfers?
Hearings for the final court approvals will be held in public at the following courts:
• London: The Companies Court at the Rolls Building, 7 Rolls Buildings, Fetter Lane, London, EC4A 1NL on 13 September 2017.
• Jersey: The Royal Court of Jersey, Royal Court House, Royal Square, St Helier, Jersey JE1 1JG on 20 September 2017 at 9am.
• Guernsey: The Royal Court, St Peter Port, Guernsey, GY1 2NZ on 22 September 2017 at 9.30am.
If the proposals are approved, we expect the transfers to happen on 1 October 2017.
You have the right to attend a court hearing and give your objection or make representations in person or through a legal representative.
We have questions and answers that provide further information. If you have any other questions, please call us on (+44) 01603 605555. Lines are open Monday to Friday 9am to 5pm.
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