FAQs

Account Opening

  1. Am I eligible to open an account?
    As long as you are 21 years old and above, you will be eligible to open a Navigator Investment Account with AvivaDirect.

    If you wish to invest using your CPF-OA, you will also need to have an existing CPF Investment Account with one of the approved agent banks in Singapore: DBS, UOB and OCBC.

    If you wish to invest using your SRS monies, you will need an SRS Account with any of the approved banks.

    In addition,

    1. You are required to have a permanent Singapore mailing address if you are a foreigner;
    2. You must not be an undischarged bankrupt; and
    3. You must not be a U.S. Person.

    Back to top

  2. If I have an existing account with Navigator, do I still need to open a separate account through AvivaDirect?
    Yes, if you wish to transact via AvivaDirect, you will need to open a Navigator Investment Account with AvivaDirect.

    Your Navigator Investment Account with AvivaDirect is a non-advisory account that is separate from your current Navigator Investment Accounts. As your existing Navigator Investment Account was opened through a Financial Adviser, it will continue to be serviced by your Financial Adviser, and will not be available for transaction via the AvivaDirect portal.

    Back to top

  3. How do I open an AvivaDirect Investment Account?
    Simply complete the Account Opening Form, available at the AvivaDirect website at www.avivadirect.sg, print, sign and mail it back to us with the relevant verification documents for processing. If you are unsure of the necessary procedures, please call our friendly Customer Service Executives at hotline 6222-84-82 (622-AVIVA) and they will be happy to assist you.

    You must read and understand the relevant Navigator Terms and Conditions and AvivaDirect Terms and Conditions, before submitting your application.

    Back to top

  4. What documents do I need to submit?
    The following documents must be submitted to open your Navigator Investment Account with AvivaDirect: -

    1. Original completed Account Opening Form*;
    2. For individuals, a copy of your Identification Card or Passport;
    3. For corporations and businesses:
      1. Copy of the Company/ Business Profile from ACRA;
      2. Copy of Certificate of Incorporation / Registration;
      3. Copy of the Directors' resolution signed by all Directors and endorsed with the company stamp; and
      4. List of authorised signatories
    4. An original copy of:
      1. Your telephone/internet/utility bill; or
      2. Any document issued by a local government body, e.g. CPF Statement, showing your full name and mailing address would be required if your address is not stated in any of the documents provided above.

    *Photocopies of original documents will NOT be accepted. Original documents should not be more than 3 months old from the date received by AvivaDirect and name and mailing address on the original documents must match the name and mailing address on your Account Opening Form.

    If you require more information, please call our Customer Service Executives at hotline 6222-84-82 (622-AVIVA).

    Back to top

  5. Where do I send the documents?
    Your completed Account Opening Form and relevant verification documents should be sent to the following address:

    Navigator Investment Services Limited
    4 Shenton Way #01-01 SGX Centre 2 Singapore 068807

    Back to top

  6. Are there any charges for opening an account with AvivaDirect?
    There are no charges for opening an account.

    Back to top

  7. What happens after I submit my Account Opening Application?
    Upon receipt of your Account Opening form and relevant verification documents, Navigator will process the opening of a Navigator Investment Account for you.

    Upon successful opening of your account, you will receive a Welcome Letter by post from us and subsequently, two (2) separate mailers with a UserID and password respectively.

    This UserID and password is in addition to the Sign In ID and password that you created during your online account opening at the AvivaDirect website, and will allow you to access the Navigator secured website where you will be able to view reports on your investment balance, transactions and performance, as well as any updates or information from Navigator.

    Please note that all online transactions are available only via the AvivaDirect website at www.avivadirect.sg, and NOT the Navigator secured website. For online transactions, you will need to use the Sign In ID and password that you created during your online account opening at the AvivaDirect website.

    Back to top

  8. How do I update changes to my particulars?
    Most of your personal details may be updated online at anytime. Just log in to the AvivaDirect website at www.avivadirect.sg and select the "Profile and password"

    However for changes to the following details, please complete the Amendment Form and mail it back to us:

    1. Name;
    2. Gender;
    3. Residence Status;
    4. Nationality; and
    5. Bank Account number.

    Back to top

  9. Are there alternate ways to submit my "Account Opening" documents?
    The hardcopy documents must be sent to Navigator Investment Services. You may send it through mail or visit our Customer Service Centre to submit your documents. Currently, emailing of the documents is not acceptable as the original documents are required.

    Back to top

  10. Why do I need to submit an original document of telephone/internet/utility bill or any document issued by a local government body?
    This is used as a form of verification on the address that was provided in the "Account Opening" document where residential address is not indicated in or is different from the address stated in the provided photo ID. If PO Box/V Box is used as the Mailing Address, please submit a copy of the subscription or other documents showing the PO Box/V Box is registered to the investor.

    Back to top

  11. If I have forgotten to submit my application form and/or relevant verification documents, do I have to re-apply online?
    You do not have to re-apply online if you had previously completed the online application process. Simply mail your completed form and the relevant verification documents back to us for processing.

    Back to top

Transfer-in your Portfolio

  1. How do I transfer my investments from another provider to my Navigator Investment Account with AvivaDirect?
    You may do so by submitting the following documents:

    1. Original completed Account Opening Form;
    2. For individuals, a copy of your Identification Card or Passport;
    3. For corporations and businesses:
      1. Copy of the Company/ Business Profile from ACRA;
      2. Copy of Certificate of Incorporation / Registration;
      3. Copy of the Directors' resolution signed by all Directors and endorsed with the company stamp; and
      4. List of authorised signatories
    4. Latest Statement of Unit Holdings (dated within a month);
    5. For CPF SA portfolio transfers, a copy of your latest CPF statement;
    6. Transfer Authorisation Form - For certain funds, specific redemption or transfer forms may be required. Please call our Customer Service Executives at hotline 6222-84-82 (622-AVIVA) for more information; and
    7. An original copy of:
      1. Your telephone/internet/utility bill; or
      2. Any document issued by a local government body, e.g. CPF Statement, showing your full name and mailing address would be required if your address is not stated in any of the documents provided above.

    *Photocopies of original documents will NOT be accepted. Original documents should not be more than 3 months old from the date received by AvivaDirect and name and mailing address on the original documents must match the name and mailing address on your Account Opening Form.

    If you require more information, please call our Customer Service Executives at hotline 6222-84-82 (622-AVIVA).

    Back to top

  2. Can I transfer-in all my funds?
    Yes, provided you meet the AvivaDirect eligibility requirements and AvivaDirect is authorised to distribute the funds that you wish to transfer-in.

    Back to top

  3. Will I enjoy CPF Investment Administrator (IA) status?
    Navigator is an Investment Administrator (IA) under the CPF Investment Scheme. As an IA, all your investments (Cash, CPF and SRS) are held in a nominee structure.

    What this means for you if your current holdings are not with an IA, is that you will start to enjoy the benefits of the IA status under Navigator automatically once you transfer your holdings over to your Navigator Investment Account with AvivaDirect.

    If your holdings are currently held under an IA, the IA status will remain the same when you transfer those holdings to your Navigator Investment Account with AvivaDirect as Navigator being an IA, is able to offer you the same IA status as before.

    Back to top

  4. Will it cost me to transfer my funds to AvivaDirect?
    No. All fees and charges (including agent bank charges incurred for both the buy and sell transactions), arising from the transfer, will be absorbed by AvivaDirect.

    Back to top

  5. What happens after I submit my transfer application?
    Once we receive your transfer application and verification documents, Navigator will review your application and if it is in order, your application will be processed accordingly. The transfer exercise will involve liaison with fund distributors, fund managers, agent banks or the CPF Board, depending on the types of funds involved. As a guide, CPF investment transfers normally require three (3) weeks for completion, whilst cash investment transfers normally take between four (4) to six (6) weeks for completion.

    Back to top

  6. Can I transfer my Navigator funds to AvivaDirect?
    Free portfolio transfer is currently unavailable for transfer within Navigator platform. Should you wish to consolidate your existing Navigator plan account subscribed through a Financial Adviser to Navigator Investment Account with AvivaDirect, you will have to submit a Withdrawal Form to close your existing plan account and open a Navigator Investment Account with AvivaDirect. Once your Navigator Investment Account with AvivaDirect is activated, you will be able to subscribe to any fund(s) available on AvivaDirect. However, please take note that you may incur a gain or loss in this process. You are strongly encouraged to make your own investigations as may be appropriate for the purpose of the transfer, including understanding the investment risks involved.

    Back to top

About Advice

  1. Does AvivaDirect provide financial and/or investment advice?
    As AvivaDirect is a non-advisory channel, we are unable to advise on the suitability of the product for your specific investment objectives, financial situation or particular needs. You are encouraged to read and understand to the relevant fund prospectus and consider whether the fund is suitable for you taking into account your specific investment objectives, financial situation or particular needs. Alternatively, you may wish to seek independent advice from your financial adviser before making any decision to invest.

    Back to top

  2. What funds should I invest in?
    AvivaDirect offers a comprehensive range of funds that cover a wide spread of geographical and sectorial options to meet your various financial needs and objectives as well as your investment risk appetite. We bring unit trusts to consumers like you who are keen to purchase unit trusts directly without advice.

    As AvivaDirect is a non-advisory channel, we are unable to advise on the suitability of the product for your specific investment objectives, financial situation or particular needs. You are encouraged to read and understand to the relevant fund prospectus and consider whether the fund is suitable for you taking into account your specific investment objectives, financial situation or particular needs. Alternatively, you may wish to seek independent advice from your financial adviser before making any decision to invest.

    Back to top

  3. What if I want financial advice?
    If you wish to receive investment advice, you will need to seek independent advice from your financial adviser.

    Back to top

About AvivaDirect, Aviva and Navigator

  1. Why should I invest through AvivaDirect? What's the benefit?
    AvivaDirect is an exciting new channel where customers like you can invest directly into funds provided by the Navigator platform, thereby enjoying greater convenience, flexibility and savings. AvivaDirect brings investment opportunities straight to consumers like you who are keen to invest into funds directly without advice. We also have a comprehensive range of funds that cover a wide range of geographical and sectorial options to meet your various needs.

    Back to top

  2. Why is investing with AvivaDirect easy?
    With the exception of the Account Opening and certain amendments to your account where we require your original signature for verification, transacting with AvivaDirect is paperless. Also, as AvivaDirect is web-based, you can view your investment portfolio and carry out your investment transactions conveniently anywhere, anytime as long as you have an Internet connection.

    Back to top

  3. Who is Aviva?
    Aviva is the world's fifth largest* insurance group, serving 50 million customers across Europe, North America and Asia Pacific.

    Aviva's main business activities are long-term savings, fund management and general insurance, with worldwide total sales of S$133.64 billion and funds under management of S$789.20 billion at 31 December 2008.

    We are the largest insurance services provider in the UK and one of the leading providers of life and pension products in Europe.

    * based on gross worldwide premiums at 31 December 2007

    Back to top

  4. Who is Navigator?
    Navigator Investment Services Ltd (Navigator) is a wholly owned subsidiary of Aviva plc. As of December 2007, Aviva the world's fifth largest insurance group and the biggest in the UK. Established in 2002, Navigator is licensed by the Monetary Authority of Singapore under the Securities and Future Act to deal in securities and provide custodial services for securities.

    In Singapore, the Company shares the Management Team of Aviva Ltd. By combining local expertise with the financial strength of the Aviva group, we offer a world-class investment platform that helps our customers with their financial planning.

    Partnering with local and internationally renowned fund managers, Navigator brings you a wide range of funds in Singapore. Navigator's comprehensive service includes easy to access quality investment tracking and consolidated reporting.

    Navigator is also the first CPFIS Investment Administrator in Singapore.

    Back to top

  5. What is Navigator?
    Navigator is an electronic investment platform that aggregates and tracks customers' investment portfolios through the AvivaOnline portal.

    Back to top

  6. What does AvivaOnline offer?
    AvivaOnline helps to make investing simple and easy through:

    1. A wide variety of funds managed through different fund houses;
    2. Unlimited switching to cater to the dynamics of investment climate;
    3. Consolidated reporting of your investments in the different funds; and
    4. 24 X 7 on-line access to fund information and reports.

    Back to top

  7. Can AvivaOnline help me select from a wide range of investment products?
    AvivaOnline does not by itself provide financial advice. It enables you to diversify your investment portfolio across a wide range of unit trusts offered by more than 10 leading local and international fund managers. You should read and understand the relevant fund prospectus and consider whether the fund is suitable for you taking into account your specific investment objectives, financial situation or particular needs. If you wish to receive investment advice, you will need to seek independent advice from your financial adviser.

    Back to top

  8. Can I check my investment portfolio using AvivaOnline?
    Yes. Once you have started investing with Navigator Investment Plans through AvivaDirect, you will receive a login ID and password that allows you to view your portfolio 24 hours a day, seven days a week.

    For further information, please contact Navigator Customer Services at 6827 7555 or service@navigator-asia.com.

    Back to top

Subscriptions

  1. How do I invest after my account has been activated?
    Once your account has been activated, we will send you a Welcome Letter by post to inform you and you may then invest at any time using our online transaction portal at www.avivadirect.sg. All you will need is your Sign in ID and password, which you created during your Account Opening, and you will be all set to invest, hassle-free and paperless.

    Back to top

  2. How much money do I need to start?
    You will need a minimum investment of only S$1,000 for your investment account, with a minimum allocation of S$100 into each selected fund(s).

    Back to top

  3. How do I invest with my CPF-OA?
    For CPFIS-OA investments, you will first need to have a CPF Investment Account with one of the three appointed CPF agent banks, namely DBS, UOB or OCBC. You may open a CPF Investment Account by visiting any branch of the appointed CPF agent banks. Once you have opened a CPF Investment Account, you must update us with your CPF Investment Account number (provided by your agent bank) before you can start investing your CPF-OA with us.

    If you already have an existing CPF Investment Account with one of the CPF agent banks, all you have to do is provide us with your CPF Investment Account number at fund subscription.

    Please note that you may only use your CPF-OA to invest in funds that are CPFIS-OA approved.

    *From 1 April 2008, you will not be able to invest the first $20,000 in your CPF-OA. To invest under the CPFIS-OA, you will have to set aside $20,000 in your CPF-OA before the remaining savings in your CPF-OA can be used for investments. Please refer to the Frequently Asked Questions on CPF Reforms that affects CPFIS for more information.

    Back to top

  4. How do I invest with my CPF-SA?
    All you have to do is provide us with your CPF Account number (usually this is your Singapore NRIC number) at fund subscription.

    Please note that you may only use your CPF-SA to invest in funds that are CPFIS-SA approved.

    *With effect from 1 July 2010, you will not be able to invest the first $40,000 in your CPF-SA. To invest under using your CPFIS-SA Plan, you will have to set aside $40,000 in your CPF-SA before the remaining savings in your CPF-SA can be used for investments. Please refer to the Frequently Asked Questions on CPF Reforms that affects CPFIS for more information.

    Back to top

  5. How do I invest with my SRS monies?
    For SRS investments, you will first need to have an SRS Account with one of the three appointed SRS Operators, namely DBS, UOB or OCBC. You may open an SRS Account by visiting any branch of the appointed SRS Operators.

    If you already have an existing SRS Account with one of the SRS Operators, all you have to do is provide us with your SRS Account number at fund subscription.

    Back to top

  6. What are the funds that I can invest in?
    To view the available funds for investment, please visit the "Funds Finder" at the AvivaDirect website at www.avivadirect.sg.

    Back to top

  7. Are the funds offered on bid/offer pricing?
    Most of the funds available from AvivaDirect are offered on a single pricing basis. However, before making a decision to invest, please refer to the relevant fund prospectus for the specific details relating to each fund.

    Back to top

  8. Are the funds valued on a daily basis?
    Most of the funds available from AvivaDirect are priced daily unless stated otherwise in the relevant fund prospectus. Before making a decision to invest, please refer to the relevant fund prospectus for the specific details relating to each fund.

    Back to top

  9. What is AvivaDirect's cut-off time for submission of subscription requests?
    Our cut-off time for subscription orders is 1400 hours on any business day. Subscription orders received before the cut-off time will be processed on the same day, otherwise it is will be processed on the next business day.

    Back to top

  10. When will my subscription order be transacted?
    For transactions in a Navigator Cash Plan, your subscription orders will be transacted only when your payment is received.

    For transactions in a Navigator CPF or SRS Plan, your subscription orders will be transacted only when Navigator receives the monies from your agent bank, CPF Board or SRS Operator, as the case may be.

    Back to top

  11. What unit price will I be transacting at?
    Most unit trusts in Singapore are priced on a "forward-pricing" basis. This means that when you subscribe into a fund on any given day, the unit price you transact at will be the value of the closing price of the fund for that day. This price will normally be made known by the relevant fund manager two (2) business days after your transaction date.

    For funds priced on a different basis, please refer to the relevant fund prospectus for details prior to making your decision to invest.

    Back to top

  12. When will my subscription order be completed?
    For transactions in a Navigator Cash Plan, your transaction will normally be completed within three (3) business days from the date of your transaction.

    For transactions in a Navigator CPF or SRS Plan, your transaction will normally be completed within four (4) business days from the date of your transaction.

    An email confirmation will be sent to you when your transactions have been completed.

    Back to top

  13. How would I know if my subscription order has gone through?
    You will receive an acknowledgement letter via your registered email with the Subject Heading "AvivaDirect Subscription form 11111111 received". Alternatively, you can also Sign-in to your Investment Account. Go to Your Account > Account Activity. If the subscription order has been received you will see a corresponding entry "Pending". You may also access AvivaOnline at www.aviva.com.sg in your Portfolio Statement which would reflect the same activity status.

    Back to top

  14. How would I know if you have received my payment?
    You will receive a confirmation letter via your registered email with the Subject Heading "AvivaDirect – Order Confirmation". Alternatively, you can also Sign-in to your Investment Account. Go to Your Account > Account Activity. If the payment has been received you will see a corresponding entry "Active". You may also access AvivaOnline at www.aviva.com.sg in your Portfolio Statement which would reflect the same activity status.

    Back to top

  15. How do I make payment for my cash investments?
    Navigator accepts payment by cheque or internet bill payment (for DBS Internet Banking customers only).

    For cheque payments, please make your cheque payable to "Navigator Trust Account", crossed 'Not Negotiable', and send it to: -

    Navigator Investment Services Limited
    4 Shenton Way #01-01 SGX Centre 2
    Singapore 068807

    Please write your name, NRIC/Passport number and Navigator Investment Plan Account denoted as "NXXXXXXX" on the back of the cheque.

    Please note that payments must accompany your online subscription orders, or the payments may not be matched to your order, which will cause a rejection or delay in the prompt processing of your transaction.

    Back to top

  16. How do I make payment for my CPF investments?
    For your investments using CPF monies, Navigator will arrange for the appropriate deduction from your agent bank for CPFIS-OA investments, or from the CPF Board for CPFIS-SA investments.

    *With effect from 1 July 2010, the threshold for investing CPF Special Account (SA) monies will be raised from $30,000 to $40,000, which means that the first $40,000 of CPF members' SA balances will no longer be allowed to be used for investment. There will be no changes to the requirement for CPF members to set aside $20,000 in their Ordinary Account (OA) before they can invest OA monies. Please refer to the Frequently Asked Questions on CPF Reforms that affects CPFIS for more information.

    Back to top

  17. How do I make payment for my SRS investments?
    For your investments using SRS monies, Navigator will arrange for the appropriate deduction from your SRS Operator.

    Back to top

  18. How do I make payment via internet-banking?
    You need to refer to Fund Details of your selected fund(s) to ensure that cash payment is acceptable. Once your online order has been completed, you can log-in to your banker's internet banking platform to perform the fund transfers.

    For fund transfers from a DBS/POSB bank account, please log-in to DBS iBanking platform and select Payment Services > Bill Payment > Select "Navigator Trust Account" from the Payee list and key-in the investment amount. Next, you must key in your Navigator Plan Account Number denoted as NXXXXXXX as the Consumer Reference No. Finally, click "Submit" to complete the transaction.

    Note : For transfers made via DBS Bill Payment, it will take at least 1 business day to reach the custodian.

    For funds transfer from a non-DBS/POSB bank account, you will need to log-in to your banker's internet banking platform to perform the funds transfer. Please indicate the payment amount to transfer to and key-in the Payee's (Navigator Trust Account) account details : DBS Current Account No. 003-900931-3. You must indicate your Navigator Plan Account Number denoted as NXXXXXXX as the Payment Reference No.

    The format below may also be used if required:
    Bank Code: 7171 Branch Code: 003
    To Account: 003-900931-3

    Note: For transfers from a non-DBS/POSB bank account, it usually takes at least 2 business days to reach the custodian.

    Back to top

  19. Can I make additional investments (top-ups) to my Navigator Investment Account with AvivaDirect?
    Certainly! You can make additional investments (top-ups) using the same subscription procedure on our online transaction portal at www.avivadirect.sg.

    Additional investments are subject to a minimum investment amount of S$100 into each selected fund(s).

    Back to top

Regular Savings Plan (Easy Save Option)

  1. What is the Easy Save Option?
    The Easy Save Option is a regular savings plan that allows you to invest a fixed amount into your selected fund(s) at your nominated frequency.

    The Easy Save Option is available for all investment types, subject to the minimum investment requirements for initial and additional investments.

    Back to top

  2. How do I subscribe to an Easy Save Option?
    Just sign in with your Sign In ID and password at our online transaction portal at www.avivadirect.sg and select the Easy Save Option ("RSP") at fund subscription.

    Back to top

  3. Is there a minimum investment amount before I can subscribe through Easy Save Option?
    Yes. The Easy Save Option, which is available for all investment types, is subject to the minimum investment requirements for initial investment. All funds have a low minimum initial investment amount of $1,000 and a subsequent amount of $100, unless otherwise stated by the fund manager(s). You should check the respective Fund Details before you subscribe into any fund.

    Back to top

  4. What is the payment frequency for the Easy Save Option?
    You can choose to make your regular investments on a monthly, bi-monthly, quarterly, half-yearly or yearly basis.

    Back to top

  5. How do I make payment for my Easy Save cash investments?
    For Easy Save cash investments, you must print out and complete the Application Form for Interbank GIRO to apply for GIRO deductions to be made from your selected bank account.

    Send us your original signed form by post and we will forward it to your selected bank. Once your bank has approved your GIRO application, we will inform you of your Easy Save activation.

    Please note that GIRO deductions for cash Easy Save Options will be made on the 15th of the relevant month of deduction (or the next business day).

    Back to top

  6. How do I make payment for my Easy Save CPF investments?
    For your investments using CPF monies, Navigator will arrange for the appropriate deduction from your agent bank for CPFIS-OA investments, or from the CPF Board for CPFIS-SA investments.

    Please note that deductions for CPF Easy Save Options will be made on the 14th of the relevant month of deduction (or the next business day).

    *With effect from 1 July 2010, the threshold for investing CPF Special Account (SA) monies will be raised from $30,000 to $40,000, which means that the first $40,000 of CPF members' SA balances will no longer be allowed to be used for investment. There will be no changes to the requirement for CPF members to set aside $20,000 in their Ordinary Account (OA) before they can invest OA monies. Please refer to the Frequently Asked Questions on CPF Reforms that affects CPFIS for more information.

    Back to top

  7. How do I make payment for my Easy Save SRS investments?
    For your investments using SRS monies, Navigator will arrange for the appropriate deduction from your SRS Operator.

    Please note that deductions for SRS Easy Save Options will be made on the 14th of the relevant month of deduction (or the next business day).

    Back to top

  8. Can I make changes to my Easy Save Option?
    Yes.

    Simply update your new Easy Save details on our online transaction portal at www.avivadirect.sg, and your new instructions will replace your existing Easy Save details and take effect from the date indicated at the close of your transaction.

    Back to top

Right of Cancellation

  1. Can I cancel my subscriptions after they are completed?
    Yes, you may. You have the right to cancel your subscription into any fund within seven (7) days from the date on which your initial subscription was made into that fund, provided that it is the first time you subscribe into the fund.

    If you have selected the Easy Save Option, please note that the right of cancellation applies only to the first contribution (provided that at the time of cancellation, that is the first time you subscribe into the fund), and not to any subsequent contribution under that Easy Save Option.

    Please read the Cancellation Notice provided on the Cancellation Form for further details regarding your right to cancel your subscriptions.

    Back to top

  2. How do I exercise the right to cancel?
    Cancellation requests must be made on the Cancellation Form or otherwise in writing to Navigator.

    Please read the Cancellation Notice provided on the Cancellation Form for further details regarding the procedure for cancellation.

    Back to top

  3. If I cancel my subscription, will I get back 100% of the original amount that I invested?
    Upon your submission of a valid cancellation request, the cancelled units will be redeemed at the realisation price of the units on the valuation day following the date of receipt by Navigator of that cancellation request.

    If there is a loss due to the value of the cancelled units on the cancellation date being lower than your original amount invested, you will have to bear that loss. If the value of your cancelled units is more than your original amount invested, you will not be entitled to receive such excess amount. You may therefore not get back your original investment.

    For all valid cancellations requests, any initial sales charge paid during the initial subscription of the units will be refunded.

    Back to top

  4. How soon will I receive the cancellation proceeds?
    Payments in respect of cancellation proceeds will be made to you within the time frame as specified by the relevant authorities for redemption of that type of fund or otherwise in accordance with Navigator's usual practice. Normally, this may take between five (5) to eight (8) business days, subject to the relevant fund manager's operations and processes and the procedures for relevant funds. Please read the relevant fund prospectus for the specific details relating to your selected fund(s).

    Back to top

  5. How will I receive the cancellation proceeds?
    For cash investments, cancellation proceeds will be credited directly to your nominated bank account, if any, or sent by cheque for the relevant amount to your last known address in Navigator's records.

    For CPF-OA investments, cancellation proceeds will be credited directly to your CPF Investment Account with your CPF agent bank.

    For CPF-SA investments, cancellation proceeds will be credited directly to your CPF Special Account.

    For SRS investments, cancellation proceeds will be credited directly to your SRS Account with your SRS operator.

    Back to top

Fund Switches

  1. How do I make fund switches?
    Just sign in with your Sign In ID and password at our online transaction portal at www.avivadirect.sg and select the fund to switch out ("SWH") at your Portfolio Statement page.

    Back to top

  2. Is there a minimum amount for fund switches?
    Yes, the minimum switch amount is S$100 per fund.

    Back to top

  3. Are there any fees or charges for fund switches?
    A fund switch involves the redemption of units of a fund (switch-out) followed by a subscription of units of another fund using the redemption proceeds of the first fund (switch-in). As such, the initial sales charge of the fund to be switched-in will apply, if any.

    AvivaDirect may occasionally have promotions on fund switches, so do look out for them on our website.

    Back to top

  4. Can I switch from a single fund into multiple funds in the same switching order?
    No, you may only switch from one fund to another fund within a single switching order.

    If you wish to switch from one fund into multiple funds, you will need to submit a separate switching order for each fund that you wish to switch into.

    Back to top

  5. When will my fund switch request be transacted?
    For fund switch requests received before 1400 hours on any business day, the redemption part (switch-out) of your fund switch request will be processed on the same business day, otherwise it will be processed on the next business day.

    The subscription part (switch-in) of your fund switch request will be processed upon receipt by Navigator of the redemption proceeds of the switched-out fund.

    Back to top

  6. How long does it take for a fund switch to be completed?
    As a fund switch involves the redemption of units of a fund followed by a subscription of units of another fund, it may take between five (5) to eight (8) days to complete your fund switch request, subject to the relevant fund manager's operations and processes and the procedures for relevant funds. Please refer to the relevant fund prospectus for the specific details of your selected fund(s).

    Back to top

  7. Do fund switches between funds under the same fund manager take less time to complete?
    No. As the fund switch will still involve the redemption of units of one fund followed by a subscription of units of another fund, it will still take between five (5) to eight (8) days to complete your fund switch request, subject to the relevant fund manager's operations and processes and the procedures for relevant funds.

    Back to top

Redemptions

  1. How do I redeem my investments (units)?
    Just sign in with your Sign In ID and password at our online transaction portal at www.avivadirect.sg and select the fund to redeem ("RED") at your Portfolio Statement page.

    Back to top

  2. Is there a minimum amount for redemptions?
    Yes, the minimum redemption amount is S$100 per fund.

    Back to top

  3. When will my redemption request be transacted?
    For redemption requests received before 1400 hours on any business day, your request will be processed on the same business day, otherwise it will be processed on the next business day.

    Back to top

  4. How soon will I receive the redemption proceeds?
    Payments in respect of your redemption proceeds will be made to you within the time frame as specified by the relevant authorities for that type of fund or otherwise in accordance with Navigator's usual practice. Normally, this may take between five (5) to eight (8) business days, subject to the relevant fund manager's operations and processes and the procedures for relevant funds. Please read the relevant fund prospectus for the specific details relating to your selected fund(s).

    Back to top

  5. How will I receive the redemption proceeds?
    For cash investments, redemption proceeds will be credited directly to your nominated bank account, if any, or sent by cheque for the relevant amount to your last known address in Navigator's records.

    For CPF-OA investments, redemption proceeds will be credited directly to your CPF Investment Account with your CPF agent bank.

    For CPF-SA investments, redemption proceeds will be credited directly to your CPF Special Account.

    For SRS investments, redemption proceeds will be credited directly to your SRS Account with your SRS operator.

    Back to top

Fees and Charges

  1. Are there any fees/charges for investing through my Navigator Investment Account with AvivaDirect?
    There are two (2) main fees/charges that you will need to be familiar with when investing through your Navigator Investment Account with AvivaDirect. These are the: -

    • Initial sales charge; and
    • Fund manager fees and other fund charges

    The initial sales charge (also called the "Upfront Fee") is deducted from your total investment amount before investment into your selected fund(s).

    The fund manager fees and other fund charges are the administrative expenses that are incurred in the running of the fund, and are usually priced into the unit price, so you will not have to pay out-of-pocket for these fees.

    Apart from the above, there may be other fees that apply to your Navigator Investment Account with AvivaDirect. Please refer to "Investment Charges" for more information on applicable fees, if any.

    Back to top

  2. How much of my investment is actually allocated into the funds I select?
    The total amount invested into your selected fund(s) will be your original investment amount, less the initial sales charge of your selected fund(s), if any.

    Back to top

  3. How is Annual Management Charge (AMC) imposed?
    This charge is levied by the fund managers for the management of a fund. It is already reflected in the NAV of a fund. Please check the respective fund prospectus(es) for details as the charges may vary.

    Back to top

  4. What is the Prospectus Maximum Sales Charge?
    Prospectus Maximum Sales Charge refers to the maximum upfront fee that is provided by the Fund Manager as a guideline. The Prospectus Maximum Sales Charge is generally higher than the AvivaDirect Current Sales Charge.

    Back to top

Statements and Reports

  1. Where can I view my investment transaction history/current investment holdings?
    You will be able to view your current investment holdings from the AvivaDirect website as well as the AvivaOnline portal.

    You will receive a Welcome Letter by post from us informing you that your plan account has been successfully opened and subsequently, two (2) separate mailers with AvivaOnline UserID and password respectively.

    This UserID and password is in addition to the Sign In ID and password that you created during your online account opening at the AvivaDirect website, and will allow you to access AvivaOnline where you will be able to view reports on your investment balance, transactions and performance, as well as any updates or information from Navigator.

    Please note that all online transactions are available only via the AvivaDirect website at www.avivadirect.sg, and NOT the AvivaOnline portal.

    Back to top

  2. What type of reports and statements will I have access to via AvivaOnline?
    From AvivaOnline, you will have instant access to the following reports:

    • Portfolio Valuation
    • Investment Performance Summary
    • Gains and Losses
    • Investment Transactions
    • Fund Reports

    Back to top

  3. Will I receive statements for my investments?
    You will receive email confirmations for all your investment transactions completed through your Navigator Investment Account with AvivaDirect. In addition, you will receive monthly investment statements from Navigator. Alternatively, you may access AvivaOnline, to monitor, track and view your investments, or obtain other reports relating to them.

    Back to top

CPF Reforms Affecting CPFIS From 1 May 2009

  1. What are the new restrictions on the CPF Investment Schemes (CPFIS) arising from the CPF Reforms?
    With effect from 1 July 2010, the threshold for investing CPF Special Account (SA) monies will be raised from $30,000 to $40,000, which means that the first S$40,000 of CPF members’ SA balances will no longer be allowed to be used for investment. There will be no changes to the requirement for CPF members to set aside $20,000 in their Ordinary Account (OA) before they can invest OA monies.

    More details are available on CPF Board's website.

    Back to top

  2. I have made some investments using my CPF SA before 1 July 2010 and the balance in my SA is below $40,000. Do I need to liquidate my CPFIS investment?
    No, if you have already bought investments using your CPF SA monies, you are not required to sell them.

    Back to top

General Information on CPFIS Investments

  1. Can I continue to service my insurance premiums if my balances fall below the respective thresholds for OA and SA?
    You can continue to service your regular premium insurance policies but NOT recurring single premium insurance policies or regular savings plans for unit trusts. This is because for regular premium insurance policies, the significant maturity benefits would be forgone if payment of the premiums is stopped, hence the CPF Board has made an exception for members to continue to service their insurance premiums if their balances fall short of the respective thresholds.

    However, this loss of benefits upon a stop in premium payment does not apply to recurring single premium plans. While the CPF Board encourages regular savings and dollar cost averaging over the long term to help build up retirement savings, on the balance, it is good to have some OA cash balance for emergency needs so that members can continue to fund housing installments, children's tertiary education and maintain insurance covers. You can resume paying premiums or regular savings plan after you have balances in excess of $20,000 and $40,000 in your OA and SA respectively.

    Back to top

  2. Do I need to pay cash for agent bank fees if my OA balance falls short of $20,000?
    No, you can continue to service the agent bank fees with your CPF savings even if your OA balance falls below $20,000. The agent bank fees are ongoing fees which need to be paid as long as you continue to hold on to your investment; hence CPF board has made an exception for you to continue paying the agent bank charges using your CPF.

    Back to top

  3. If I sell my investments or switch between investments, will I be able to re-invest the sale proceeds if my OA or SA balance is below the respective thresholds?
    The restriction on the OA and SA threshold will not apply if you switch between investments.

    Under CPFIS-OA, when you sell your investments, the sale proceeds will be credited into your CPF Investment Account. You may reinvest the sale proceeds in your CPF Investment Account, even if the balance is below $20,000. However, if the balance in your Investment Account is refunded to your OA, you may not re-invest the monies if your OA balance is below $20,000.

    Under CPFIS-SA, when you sell your investments, the sale proceeds will be credited to your SA and you may not re-invest the monies if your SA balance is below $40,000.

    Back to top

  4. If I have $X in my OA and $Y in my CPF Investment Account, how much can I invest?
    Please see below:

    1. If $X is less than or equal to $20,000, you can only invest $Y.
    2. If $X is more than $20,000, you can invest $X minus $20,000 and $Y.
    3. If you initiate a refund of $Y to your OA or $Y is automatically refunded to your OA as you have no active transactions in your Investment Account for 2 consecutive months,
      1. if $X plus $Y is less than or equal to $20,000, you will not be able to invest any amount, and
      2. if $X plus $Y is more than $20,000, you will be able to invest $X plus $Y minus $20,000.

    Back to top

Additional questions that may be useful

  1. Where can I obtain copies of the relevant Terms and Conditions?
    You can access the AvivaDirect website at www.avivadirect.sg for the full set of terms and conditions applicable to you.

    Back to top

  2. In addition to accessing the AvivaDirect website, do I still need to visit AvivaOnline?
    We encourage you to access AvivaOnline at www.aviva.com.sg regularly to obtain information on your transactions and unit holdings. Navigator may also provide updates, notifications and other information to you through this secured website.

    Back to top

  3. Will I receive an AvivaOnline UserID for each plan that I have with Navigator through AvivaDirect?
    If you are not an existing Navigator investor, upon successful opening of your first Navigator Investment Account with AvivaDirect, you will receive a Welcome Letter by post from us and subsequently, two (2) separate mailers with a UserID and password respectively.

    This UserID and password will allow you to access the AvivaOnline portal where you will be able to view reports on your investment balance, transactions and performance for all the plans that you have with Navigator.

    As such, you will only need one (1) UserID and password, regardless of the number of plan accounts you open with Navigator through AvivaDirect.

    Please note, however, that all online transactions are available only via the AvivaDirect website at www.avivadirect.sg and NOT the AvivaOnline portal.

    Back to top

  4. I can't remember my Sign In ID and/or Password, can you help me retrieve/reset them?
    For AvivaOnline, you will need to provide Navigator Investment Services with your full name and NRIC for your Sign In ID and password to be sent to your last known mailing address.

    For AvivaDirect website, you can retrieve your password by going to 'Your Account' and selecting 'Get Password'. Follow the instructions and your new password will be sent to your registered email with AvivaDirect. Please retrieve it and use it to Sign In to AvivaDirect. We advise that you change your password immediately upon your next Sign In. If you have forgotten your Sign In ID, please call 6222-84-82 for assistance. Alternatively, you can retrieve your Sign In ID by checking through the email confirmation that you would have received after opening an account with AvivaDirect.

    Back to top