Aviva Australia will continue to pay pensions to its self-funded retired customers regardless of fund suspensions in the mortgage sector.
The announcement covers all Aviva products that have a stake in external funds that are affected by the current freeze on capital redemptions.
"Our customers should not have to go cap in hand to Centrelink. They've worked hard to fund their retirement and we are committed to meeting their needs," Aviva director of operations Frank Lombardo said.
Following the rush by investors to guaranteed deposit accounts, several major mortgage funds announced they would suspend redemptions. Major industry players caught up in the freeze include Axa Asia Pacific, Challenger, ING Australia and Colonial First State.
Aviva is continuing to review the situation, according to Lombardo.
