With our workplace pension, employees will have access to our carefully designed default fund My Future Focus, and a wide range of investment funds. With this much choice, your employees can focus their investments as they choose and manage everything easily through their Aviva online account.
My Future Focus
Your employees will be automatically enrolled into our default approach - My Future Focus - which has been built to meet the needs of the majority of employees.
Wide range of investment funds
With a choice of externally managed funds, employees have the freedom to invest in a way that suits them.
Ethical and Shariah funds
We offer ethical funds among the range of self-select funds. This means that your employees can align their investments with their values. We also offer Shariah funds which invest in companies that meet Islamic Investment Principles.
Our default investment options comply with all auto enrolment requirements. Please remember the value of a pension can go down as well as up, so members could get back less than has been paid in.
My Future Focus, our default investment option
My Future Focus is our default option. It aims to combine the best of both worlds - Aviva's place as a leading provider of workplace pensions and Aviva Investors' experience as an asset manager.
My Future Focus has been designed to provide your employees with an appropriate balance between risk and return, including the ability to respond dynamically to changing market conditions, while integrating environmental, social and governance (ESG) considerations throughout. In this way, we hope to provide peace of mind for our customers, and therefore your employees, throughout their retirement journey. My Future Focus aims to grow capital in the earlier stages of the retirement journey and then to preserve capital as customers get closer to retirement. Please see below for more detail about My Future Focus and how it works.
My Future Focus has been designed to let employees invest in line with how they intend to take their benefits, whether that's to draw an income from their retirement savings, take a cash lump sum or purchase an annuity. Alternatively, investors can keep their options open and choose how to take their pension savings as they get closer to retirement.
Take a look at our retirement section for more information on what your employees can do with their pension.
How My Future Focus works
Preparing for retirement
Up to 15 years before your employees' chosen retirement age, investment is in the My Future Focus Long Term Growth Fund, which aims to provide growth in the size of their pension savings.
Download My Future Focus Long Term Growth fund factsheet (PDF 807 KB)
Download My Future Focus guide for adviser, trustee and employer (PDF 858 KB)
Approaching retirement
From 15 years before your employees' chosen retirement age, their money is gradually moved into the My Future Focus Growth Fund, before moving into the My Future Focus Consolidation Fund in the 10 years leading up to retirement. This aims to help reduce fluctuations in the value of your employees' pension pot.
Download My Future Focus Growth fund factsheet (PDF 903 KB)
Download My Future Focus Consolidation fund factsheet (PDF 805 KB)
Please note this is for the My Future Focus universal solution which doesn't target a specific outcome at retirement. Employees will decide how to take their savings as they get closer to their selected retirement age.
A wide range of investment funds covering the key asset classes available alongside our default option
For those employees who want the option of investing their money outside the default option, we offer and govern a wide range of externally managed funds that your employees can choose from.
These include:
- Actively managed and passive funds.
- Ethical and Shariah options.
- Funds from more than 25 management houses, including leading fund groups, such as Abrdn, Invesco, Jupiter and Schroders. We also offer funds managed by our dedicated fund management group Aviva Investors.
Your employees can research, manage and change their investment choices online using their Aviva online account. There are no charges for switching funds, and they can make as many changes as they like.
Find the details of all of the available funds in our Fund Centre.
Fund choices for everyone
Our fund range also includes ethical funds and Shariah-compliant funds. As with other funds, the value of investments can go down as well as up and members may get back less than has been paid in.
Ethical investment funds
Our range includes ethical investment funds, for those who want to invest their money in line with their beliefs and principles. This includes funds that exclude industries such as gambling and tobacco. These funds might be suitable for people who want to make sure that their money isn't used to support businesses that aren't aligned with their values.
Sustainable Stewardship funds
Designed to incorporate environmental social and governance (ESG) considerations, the Sustainable Stewardship Funds aim to give your employees the opportunity to secure a future for themselves and their families, while contributing to a sustainable long-term future for the world around them. The funds have a long track record. The Sustainable Stewardship UK Equity Fund was launched in 1984.
Funds that take ESG factors into consideration
Environmental, social and governance (ESG) issues count more than ever before when it comes to offering your employees the type of investments they want from their workplace pension.
At Aviva, we define sustainable investing as 'an approach to investing that incorporates environmental, social and governance (ESG) factors into investment decisions, to better manage risk and generate sustainable, long-term returns'.
To help people identify funds which invest sustainably, the UK and other governments are introducing sustainable labels for funds. These are intended to help your employees choose investments that suit their priorities.
Your employees can research and select funds through their Aviva online account
Our online management system gives your employees convenience, choice and control. Once you're with us it’s easy for employees to view their account and check how their investments are performing, arrange changes to their investments at any time, and research and make new investments.
Case study
Jane is 44 and has £35,000 in her pension pot. After hearing about the ethical funds we offer, she decided to find out more, despite not being entirely confident in how to invest. Using her Aviva online account on her tablet, Jane could compare different funds using our charts and factsheets. She decided to invest in an ethical fund which aimed to avoid investment in companies responsible for pollution. Jane used the app to transfer her money for free. This is a fictional example.
Fund governance
Governance is an important part of our investment proposition. Our in-house fund governance team therefore monitors the funds we make available to your employees.
As part of this, it's our responsibility to:
- Ensure the default is suitable for the majority of automatically enrolled employees and that it meets or exceeds regulatory requirements.
- Review the approach annually to make sure that it's still suitable for our customers and therefore your employees.
- Review the performance of underlying funds to check whether they're performing in line with their sector and/or benchmark.
- Replace any funds that are not performing in line with expectations.
- Provide members of your scheme with information about the default investment approach and how it works.
Our in-house governance team regularly monitors all of the funds we offer our customers, both internal and external funds, to ensure that they continue to perform in line with expectations and meet the needs of our customers.
If we believe a fund isn't doing this we take action, which can mean removing it from our range.
Our workplace pension is also overseen by an independent governance committee (IGC) to make sure it offers value for money for all scheme members.
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Our investment proposition
Find out about auto enrolment for workplace pensions, with our easy to follow general guidance and information.
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Our workplace pension - information for employers
Simple to set up and with a default investment solution, our workplace pension could be ideal when it comes to auto enrolment.
Our workplace pension - information for advisers
We’ll help you to set your clients up with their first workplace pension or assist the switch from their current scheme.
Our workplace pension - information for payroll professionals
We can offer your clients a new workplace pension or support moving their current scheme.