Aviva said that it introduced restrictions on surrenders, switches and transfers from the Aviva unit-linked property fund (life and pensions) in January 2009 following a difficult period in the UK commercial property market between 2007 and 2009. The restrictions applied to investors in life bonds and pensions, and requests to move money out of the fund could be deferred for up to a maximum of six months.

Aviva noted that customers will now be able to surrender, switch or transfer investments from the fund in line with normal business practice.

David Barral, marketing director at Aviva, said: "Aviva introduced deferred withdrawals from the fund to safeguard the interests of all investors in what was an extremely difficult time for the UK commercial property market. We understand that restricting withdrawals was inconvenient for some investors but this enabled us to sell properties at more attractive values, which was in the interests of the majority of investors.

"With improving conditions in the commercial property market, Aviva is now confident that current cash levels are sustainable. This enables us to lift the current restrictions for all investors in the fund from today."

A service of YellowBrix, Inc.