Aviva's total reward statements go live

Article date: 22 February 2011

Aviva is making it easier for people to understand the value of benefits provided by their employer.

Total Reward Statements will be offered alongside group personal pensions and give employees an online personal statement of their benefits package including salary, bonus, pension, medical insurance, health screening, life and critical illness insurance, car allowance and holiday.

The launch underlines Aviva’s strength in the workplace savings market. The technology is provided by Staffcare, an award-winning employee benefits software company that licenses its technology to many of the UK’s leading employee benefit consultants and corporate advisers.

Paul Goodwin, head of pensions marketing at Aviva, said: “Aviva research shows that companies’ employees want to view and manage their benefits in one place. Aviva’s Total Reward Statement is ideal for employees because it enables them to understand and manage their workplace benefits. For example, people are more likely to save into a work pension if they can see how much it is worth and how
much it grows each year.

“It’s also good news for employers because it helps with staff retention and can make it simpler to communicate the benefits offered by the whole staff benefits package. We expect the workplace savings market to grow fast over the next few years, and it’s one in which Aviva will play a leading role.”

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For more information please contact:
David Gwyer 01904 452659 07800 693187 david.gwyer@aviva.co.uk

Notes to editors
Aviva is one of the world's largest insurance groups* with 53 million customers worldwide and 46,000 employees. Aviva’s main activities are long-term savings, fund management and general insurance, with worldwide total sales of £45.1 billion and funds under management of £379 billion*.

In the UK, Aviva takes care of its 19.2 million customers by helping them look after their future, protecting what’s important – from their health to their homes, their cars to their business – and saving for the future.

Aviva has a 10.5%** share of the UK life and pensions market and insures one in six homes and one in ten cars in the UK. It is also one of the oldest UK insurers, with a heritage stretching back more than 300 years. RAC, which is owned by Aviva, provides breakdown and insurance services for individuals and businesses and has around seven million customers.

Aviva is carbon neutral worldwide, and is ranked in the top 10% of socially responsible companies globally by the Dow Jones Sustainability World Index. In the UK, Aviva invested £3.8 million into local communities in 2009. Read our corporate responsibility report at www.aviva.com/cr.

Aviva’s global Street to School programme is working in partnership with Railway Children in the UK to get children living on the streets back into education and everyday life. Find out more at www.aviva.co.uk/street-to-school.

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*based on gross worldwide premiums at 31 December 2009
**Source: ABI data released August 2010

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