How to change funds

Here, youʼll find out how to change Aviva and ex-Friends Life funds in a few simple ways, depending on your type of plan.

Seeking financial advice

We strongly recommend you speak to a financial adviser before making any investment changes. For more information about getting financial advice, visit our financial advice page.

Aviva

Life Products

Contact us

Bonds

0800 096 3530

Monday to Friday
9am-5.30pm
Saturday
8.30am – 2.00pm

Endowments

0800 092 2436

Monday to Friday
9am – 5pm

Calls may be recorded and/or monitored.

Complete a form

If you prefer to write to us, download and complete our switch form (check your plan is covered by this form – if not, give us a call).

Pension Products

For general enquiries about your policy:

Please input your policy number to help us find the correct contact details and documents for your policy.

Policy number

If you are not an existing customer or don't know your policy number, please visit our general contact page.

For Pension Portfolio customers, please use the contact details further down this page.

Online

If you have a pension with Aviva, it may be possible to do your research and switch funds using MyAviva - the most straight forward way to manage your pension.

Log in or register for MyAviva.

Collective investments and ISAs

Contact us

0800 051 2003

Monday to Friday
8.30am – 5.30pm

Calls may be recorded and/or monitored.

Write to us

If you prefer to write to us, please detail the funds you wish to switch out of/into, whether they are regular or future payments, and by which percentages.

Aviva Investors,
Administration Office,
PO Box 10410,
Chelmsford,
CM99 2AY

Pension Portfolio

Contact us

0800 046 6167

Monday to Friday
8.30am – 5.30pm

Calls may be recorded and/or monitored. We can only offer factual information, not advice.

Need some advice?

If you’d like a hand deciding where to invest your money, a financial adviser could help.

If you don’t have a financial adviser and would like more information about getting financial advice, visit our financial advice page.

Ex-Friends Life

You can change your ex-Friends Life fund by sending instructions by post. We may, for single life policies, also be able to accept your instructions by other methods. Visit our contact us page to find the appropriate address or number for your policy.

All legal owners and Trustees (if applicable) of the policy must sign written instructions. If you're unsure who has to sign to agree to the switch or redirection, please contact us and we'll let you know.

What is a switch

A switch is a transfer of all or part of your existing fund holding(s) to a new fund or selection of funds. The number of funds you can select at any one time depends on the terms of your product. You can check this in your product literature or by contacting us.

What is a redirection?

A redirection is a change of the funds into which your future contributions are invested. Unless you tell us otherwise, your existing investment remains in the original fund(s). Please note that redirections do not apply to single premium products such as investment bonds.

Is there a charge for changing funds?

Most of our products allow a certain number of fund switches free of charge in every policy year. The number of free switches varies from product to product. If you exceed the maximum number of free fund switches, we may apply a charge to the transaction. If you need more information on switch charges or to find out the number of funds you can invest in at the same time, please contacting us.

How to change funds

Please make sure you read these notes before carrying out a fund switch or redirection.

We're unable to give financial advice about which funds to choose. For more information about getting financial advice, visit our financial advice page

If you are unsure which funds are available on your policy, please contact us.

There is a maximum number of funds you can hold on your policy at any one time and this is shown in your policy documentation. This maximum includes both the funds you are invested in now and any you choose for future contributions. If you have an Income Distribution Bond you can only invest in one single fund at a time.

You can send your instructions by post. We may, for single life policies, also be able to accept your instructions by other methods. Please contact us to confirm.

All legal owners and Trustees (if applicable) of the policy must sign written instructions. If you're unsure who has to sign to agree to the switch or redirection, please contact us and we'll let you know.

The price date of the switch is determined by when and how we receive your request.

What else do I need to know?

Market value reduction (MVR)

At certain times, such as periods of stock market turbulence, we may need to apply an MVR when money is taken out of a with-profits fund. This is because we also have to look after the interests of the policyholders that stay in the fund.

By applying an MVR we're in effect lowering the fund's unit price so that it more closely matches the value of the fund's underlying investments.

We will always tell you if an MVR applies when you want to switch out of a with-profits fund. For more information about our with-profits funds please visit our with-profits page.

Suspend trading

Fund managers have the ability, in certain circumstances, to suspend trading in their funds for as long as necessary.

When this occurs we will need to delay the ‘cashing inʼ or switching of units in the relevant fund. You may not be able to access your money during this period.

The circumstances in which we may delay a switch, withdrawal or transfer can include but are not limited to the following:

  • If a large number of customers want to take money out of the same fund at the same time;
  • If there are practical problems selling the assets in which the fund is invested;
  • If the fund (or part of it) is managed by an external company, they may insist on a delay.

A decision to suspend a fund is unusual and weʼll tell you that there is a delay before we carry out your request. We wonʼt delay paying out on death, or at your selected retirement date for a pension.

Frequent switching

We may also delay or refuse to act on a switch instruction in the unlikely event that we believe that someone is switching between funds so often that it is damaging to, or could damage, the interests of other people whose policies are invested in those funds. We'll only do this to the extent we reasonably consider necessary to protect the interests of those other policyholders that remain in the fund.

More information

If you have questions about changing your funds, please contact us.

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