All Aviva articles – Page 5
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News
Medical scheme completes £10m buyout with Aviva
On the go: The Unomedical Pension Plan has entered a £10m buyout with Aviva, which shows ongoing appetite from insurers to write smaller contracts.
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Banking association scheme signs £95m buy-in
On the go: The defined benefit scheme of the British Bankers’ Association has entered into a £95m buy-in agreement with insurer Aviva, covering 213 members’ benefits.
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Co-op scheme completes £350m buy-in with Aviva
On the go: The Co-operative Pension Scheme has completed a £350m buy-in with Aviva, taking its total transactions this year beyond £2bn, as defined benefit schemes look to capitalise on cheaper deals amid the coronavirus pandemic.
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Aviva launches online scam reporting service
On the go: Aviva has launched an online scam reporting service in response to the influx of fraudulent activity by those exploiting the coronavirus crisis and people’s vulnerability at this time.
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Workplace pension numbers hit record high
On the go: The number of UK employees in workplace pension schemes reached a record high last year, but one provider giant has warned this is masking the millions still saving at “inadequate levels”.
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Co-op pension scheme completes £1bn buy-in
On the go: The Co-operative Pension Scheme has completed a £1bn bulk purchase annuity transaction with Aviva.
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Aviva launches ESG default fund
On the go: Aviva has launched a defined contribution default fund with environmental, social and governance considerations at its heart, in line with growing demand from workers.
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Marks & Spencer adds £1.4bn in new buy-ins
On the go: Marks & Spencer's UK defined benefit scheme has entered a £1.4bn buy-in with the Pension Insurance Corporation and Phoenix Life, bringing its total insured portfolio up to two thirds of its pensioner population.
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News
Workers unaware of auto-enrolment contribution hike
On the go: More than a quarter of workers are unaware of automatic enrolment increases taking effect from Saturday, according to Aviva research.
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Church of England scheme gives ultimatum to mining companies
On the go: In the wake of the collapse of the tailings dam in Brumadinho, Brazil, which killed at least 84 people and left hundreds missing, 96 institutional investors have been stirred into action.
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Bulk annuity volumes beat expectations with £24bn in 2018
On the go: Legal & General took the largest share of the bulk annuity market in 2018, accounting for 35 per cent of the sector, in a year when buy-ins and buyouts totalled £24bn.
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Savers unfazed by AE contribution rises
Auto-enrolment savers have proved indifferent to a rise in their contribution rates imposed earlier this year, according to research, but the government remains unconvinced by the case for using inertia to tackle low self-employed saving rates.
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Only 39% of young savers confident about retirement prospects
Young savers in the UK are in danger of being left in the lurch when it comes to retirement planning, a recent survey has shown, with experts mooting auto-escalation and better financial education as possible solutions to a looming crisis in the decades ahead.
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UK employees set to work until they drop
On the go: The number of “early retirees” is at a 23-year low, according to latest employment figures from the Office for National Statistics, signalling that despite vestiges of ageism the older worker is in the ascendant.
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Two in five employees are approaching retirement ‘blindfolded’
On the go: Forty per cent of employed 46 to 55-year-olds do not know how much they have saved for retirement, a recent survey has found.
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NewsAviva customers hit by system glitch
Pension provider Aviva has admitted that a number of its customers were unable to access their pension policies on its MyAviva system. The delays have prevented some customers from transferring their pensions.
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Bulk annuity volumes break H1 record
On the go: UK pension schemes entered into a record £7.8bn of buy-ins and buyouts in the first half of 2018, as large 'back book' transfers between insurers failed to disrupt the market's capacity.
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NewsFCA recommends investment pathways for drawdown
The Financial Conduct Authority has proposed that pension providers are required to develop three ready-made investment pathways to help confused drawdown customers, but has shied away from imposing a charge cap on the products.
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News
Marks and Spencer scheme completes £1.4bn buy-ins
On the go: Trustees of the Marks and Spencer Pension Scheme have purchased buy-in policies with Phoenix Life and Aviva totalling £1.4bn.
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IGC reporting fails to identify value for money
Independent governance committees are failing to adequately report the value for money represented by their respective providers, according to a new report ranking the committees on scrutiny and transparency.