Regular Withdrawal Post-Retirement Guide
How to key a regular withdrawal on a Platform Account post-retirement.
Set up a new regular withdrawal
1. Log in to the Aviva Platform and search for the customer's AV number, which will take you to their summary screen.
2. Click into the Details tab (on the right side of the screen) and select the Banking Details tab. Make sure the bank details the customer wants to use for the withdrawal are active and nominated for withdrawals. If they aren't, contact your support team. If you need to add a bank account, you can do this by selecting Add Bank Details. These can take up to 24 hours to authorise automatically, or five working days if manual intervention is required.
3. Go back to the customer’s Portfolio Summary (top left of the page), then go into their post retirement account.
4. Select the Income Maintenance tab and then the Edit Income Payment Details tab.
5. You now need to fill in the payment details, including the date of the first payment, the payment frequency and the gross income required per payment.
6. Next, confirm if the disinvestment will be pro rata or use your own asset selection.
7. Confirm the bank details and click Continue.
8. Check all the details and confirm the income payment by clicking Continue.
8.1 You should receive confirmation and a Green tick, if anything else appears including an exclamation mark and text (i.e. total allocation must be 100) the submission has not processed correctly.
Change an existing regular withdrawal
1. Log in to the Aviva Platform and search for the customer's AV number, which will take you to their Summary screen.
2. Click into the customer's post-retirement account.
3. Select the Income Maintenance tab and then Edit Income Payment Details tab.
4. You now need to fill in the payment details, including the date of the first payment, the payment frequency and the gross income required per payment.
5. Next, confirm if the disinvestment will be pro rata or use your own asset selection.
6. Confirm the bank details and click Continue.
7. Check all the details and confirm the income payment by clicking Continue.
7.1 You should receive confirmation and a Green tick, if anything else appears including an exclamation mark and text (i.e. total allocation must be 100) the submission has not processed correctly.