Aviva Staff Pension Scheme
The Aviva Staff Pension Scheme is an integral part of the retirement benefits offered to employees of Aviva PLC, one of the UK’s largest insurers. This pension scheme is structured as a hybrid, incorporating elements of both defined benefit and defined contribution plans, which provides flexibility and security for its members. The defined benefit portion of the scheme guarantees a retirement income based on the employee’s salary and years of service, offering a stable financial future post-retirement. Conversely, the defined contribution part depends on contributions made by both the employee and employer, along with the investment returns those contributions earn. Managed with a strong emphasis on strategic asset allocation and risk management, the Aviva Staff Pension Scheme is designed to meet the diverse needs of its members, balancing current funding with future liabilities to maintain sustainability. Aviva’s commitment to its employees is reflected in the thorough governance and transparent management practices of its pension scheme.
