Why choose Company Pension from Aviva?
- Rated 5 Star by independent financial researcher Defaqto – so you can have confidence you’re getting a high quality scheme for your business and employees.
- Helps you meet your auto-enrolment obligations – Company Pension meets or exceeds all the government’s guidelines for workplace pensions.
- Easy to manage – online administration helps minimise the time you need to spend managing your scheme.
- Unlike some providers we’ll offer terms to businesses of any size, no matter how large or small your firm.
- A good quality default investment approach – ideal for employees who don’t want to make their own investment decisions, plus we handle all the governance
- Plus a broad investment range for confident investors – over 245 funds from the top names in investment, including ethical and Sharia funds.
- Our annual fund charges are a maximum of 0.75% in line with government guidelines, so more of your employees’ money stays in their pension pots. Please note, some funds that your employees are able to choose have extra charges.
- UK-based telephone and email support – our dedicated Company Pension helpdesk will deal with any queries you or your employees have.
- Online management puts your employees in control – they can check their pension plan value and make changes at any time through their FREE MyAviva account.
- A selection of discounts for scheme members – discounts off everything from Aviva products to MOTs and trips abroad.
- Plus – auto-enrolment software. This automates the key tasks involved in complying with auto-enrolment pension regulations, saving time for you or your payroll team.
What is a workplace pension?
In a nutshell, a workplace pension is an investment plan you set up for your employees to help them save for their retirement.
By law, all employers will have to provide their workers with a workplace pension scheme in the next couple of years. You’ll need to set up a scheme before what’s known as your ’staging date’, if you don’t already offer one. This is called ’automatic enrolment’ (’auto-enrolment’ for short).
For more information about auto-enrolment and to find out your staging date, visit The Pensions Regulator’s website.
Is Company Pension suitable for automatic enrolment?
In a word, yes. Company Pension meets or exceeds the government’s quality standards for auto-enrolment pension schemes. It features robust governance, a good quality default investment approach and low annual fund charges.
Common questions answered
Why do I need a workplace pension?
Firstly because the law on workplace pensions has changed. If you employ one or more people, you’ll need to provide a workplace pension under the new ’automatic enrolment’ regulations.
Offering employees a good quality workplace pension like ours is also a great way of giving your workforce something back. If they value your scheme, it could be a useful staff retention and recruitment tool.
What is ’automatic enrolment’?
Automatic enrolment (or ‘auto-enrolment’) is the name used to describe new pension legislation for businesses. All employers now have new duties, including putting those employees who meet certain criteria into a workplace pension scheme and contributing towards it.
It’s called automatic enrolment because it’s automatic for your staff – they don’t have to do anything to be enrolled into your scheme. However it isn’t automatic for you. You need to take steps to make sure they’re enrolled.
When does it affect me?
You’ll need a suitable workplace pension in place (such as Company Pension) by what’s known as your ’staging date’. If you don’t know what yours is, use The Pension Regulator’s staging date checker.
Can you help me with automatic enrolment?
Our Company Pension workplace pension schemes are ideal for auto-enrolment use, as they meet or exceed the government’s requirements and best practice guidelines.
What’s more, we can also provide you with auto-enrolment software that automates many of the tasks involved in complying with the regulations – saving you time and effort every month.
Is there a cost for providing Company Pension?
In most cases, you’ll have to pay a small monthly fee for using Company Pension, which we call an ’employer pension charge’.
This fee covers the costs of us running your scheme and providing you with supporting services, and is typically between just £30 and £50 a month.
Remember that you’ll also need to make contributions to your employees’ pension plans, as you do with all auto-enrolment pension schemes.
What’s a default investment fund?
This is where an employee’s money will be invested by default when they become a member of a scheme. They can choose to invest it somewhere else if they wish.
What is Company Pension’s default investment fund?
We offer a default investment ’approach’ called Future Focus 2 Drawdown. It consists of three funds, rather than just one. As the scheme member gets closer to retirement, we automatically move their money into less volatile funds. We do this to reduce the chances of any sudden dips in value just before they retire.
Is Company Pension suitable for partnerships and sole traders?
Yes. If you employ at least one person, you can use Company Pension.
How long do I have to accept your quote?
Once you get a workplace pension quote from us, it’s valid for 30 days.
One of the UK’s leading workplace pension providers
We run schemes for thousands of businesses, helping countless employees invest for a better retirement.
Over 120 years’ experience and expertise
We’ve been looking after employees’ interests since 1894, when we set up our first occupational pension scheme.
We’re rated A (Superior) by AKG Actuarial Consultants, the highest rating available.
Workplace pension expertise
By February 2016 we’d helped over 7,000 employers with a workplace pension and we’re supporting many more.
A name your workforce know
Aviva is one of the leading insurance and savings businesses in the UK with over 16 million customers.
Regulated and protected
We’re regulated by the Financial Conduct Authority, which gives your employees protection under the Financial Services Compensation Scheme.
Get a workplace pension quote
Get a free, no-obligation quote online to find out what terms we can offer you.