Our newest set of ratings are designed to help benefits consultants, corporate advisers and employers gain a better understanding of the Financial Wellness propositions that are available via workplace pension providers which can meaningfully improve member financial wellness and resilience.

Aviva took part in our Financial Wellness without Open Finance ratings and gained overall Gold awards for their My Money and My Money Master Trust propositions (they achieved an overall sliver award for their Designer proposition).

The ratings look at nine separate areas of a Financial Wellness offering, and Aviva scored exceptionally well in four of these, obtaining a further four underlaying gold awards.
Financial Education:

Financial Education is a key part of the Aviva offering. They offer wide range of generic financial education to their members, including information on what a pension is, the State Pension, death benefits, investment options, budgeting, savings, and wills. They are also able to deliver personalised financial education content to the member based on their age, selected retirement date, family status and financial position.

This is delivered via online support, face-to-face sessions, video content and the Aviva mobile app. They also have the ability to host bespoke content provided by the employer if required.
Member communications and support:

Aviva communicate and engage with their members via multiple channels including email, phone, webchat, and instant message. They use push notifications and intelligent messaging via the mobile app and member portal where necessary and can create savings statements via all digital channels.

Research and educational events:

Aviva conduct their own research to gain a better understanding of what their members want from a Financial Wellness program. This includes questionnaires, interviews, case studies and focus group with their members, employer clients, advisers, and the general public.

They also host financial wellness events for advisers, employers and members and have a dedicated financial wellness team on hand to assist with any questions and provide support.

Laura Stewart-Smith Head of Workplace Savings and Retirement at Aviva, says: ” Aviva is committed to supporting our clients and members to achieve the best possible retirement. Financial education, communication and wider engagement play a key role in achieving this.”

“Benefits Guru provides comprehensive insight that supports advisers and their clients. It is great to see that the communication support and financial education services are being recognised and we welcome the opportunity to showcase this.”

Aviva also achieved underlaying silver awards for their budgeting and goal setting functionality and for the range of additional savings vehicles they offer alongside the pension. They do not currently have any functionality for members to save/build an emergency cash fund, create micro savings or assist with debt management, which is something to consider in the future.

Overall, this is a fantastic outcome for Aviva and demonstrates their commitment to offering products and services that their members want and value. Well done to all at Aviva.

To see the full ratings and view all the provider factsheets CLICK HERE