The push for scale among workplace pension providers has seen Aviva Master Trust reach £15bn of assets under management.
Aviva reported this latest milestone, while stating that the multi-employer pension trust is now used by more than 550 employers, and half a million employees across the UK.
Scale has become a watchword across the workplace pensions sector, with the government introducing new targets for schemes to reach £25bn by 2030, under Rachel Reeves’ Mansion House reforms.
Despite the challenging economic backdrop Aviva said employee contributions have remained consistent which has helped contribute to this growth. It has also benefited from new employer mandates and “resilient” investment returns.
Aviva also highlighted a series of enhancements it has made to its master trust over the past 12 months. This includes new tools designed to highlight the potential impact of career breaks and reduced hours on future retirement income. Aviva also offers a new “guided” retirement option, which follows a ‘flex and fix’ model, enabling newly retired members to take a drawdown income in the early years of retirement before moving into a guaranteed annuity payment. Aviva has also launched a Shariah lifestyle investment strategy during the accumulation phase.
Aviva head of master trust development Geoff Marchment said: “Scale matters – especially when harnessed to benefit savers through strong governance, responsible investment, and practical tools that empower confident decision-making.”
Dr. Chris Noon, chair of the Aviva Master Trust, added: “This significant milestone is testament to the strength and scale of the Aviva Master Trust. It reflects the confidence our employers and members place in us and offers even greater opportunities to deliver meaningful value at scale.
“Our focus remains firmly on helping members achieve better outcomes – through innovation, strong governance, and a retirement journey that truly works for them. We’re excited to build on this momentum and continue shaping a future where every saver in the trust feels supported and empowered.”
