Single Drawdown Guide

How to key a single drawdown on an existing Aviva Pension Portfolio policy.

Step 1 of 3

Confirm the customer's bank details

  1. Log in to the Aviva platform.
  2. Search for the customer's AV number.
  3. Choose Details.
  4. Then Banking Details.

Make sure the customer's bank details are active and allow withdrawals. If not, click here.

If they're correct, follow these steps:

  1. Click back into the customer's porfolio summary--it's at the top of the customer Details/Banking Details page.
  2. Go into the customer's pre-retirement account.
Step 2 of 3

Make sure the account can be cystallised

To check whether the account can be crystallised take a look at Pending Transactions for trades ongoing trades or direct debits. Please also check transaction history to ensure charges are not within the next five working days.

The amount that can be crystallised is limited by how much is traded or contributed, so keep that in mind. Plus, if the customer's invested in a model, the account can't be crystallised with active trades.

You can't amend the Ongoing Adviser Charge during a Take Pension Benefit application. The charge carries over, but you can amend it if you need to through the post-retirement account once it's created.

Head to Charges and it's under Review.

Step 3 of 3

Select crystallisation option and follow the system guide

A pension commencement lump sum (PCLS, or tax-free lump sum) is made via CHAPS--you can check the processes below for timeframes.

There are two options for starting crystallisation--choose which one you need guidance on:

Please note: If it's the first crystallisation for the customer:

  • Upload the full declaration to the client correspondence section.
  • Docusign is accepted on drawdown applications.

  • A further drawdown declaration will only be required if the last crystallisation is over 6 months prior.