Aviva Clarity

Bulk purchase annuities, streamlined.

  • Aviva Clarity is our standardised bulk purchase annuity (BPA) solutions for defined benefit pension schemes with liabilities up to £100m
  • You’ll benefit from our in-depth expertise and experience, with over 800 BPA transactions already completed
  • Governance by our defined benefit experts means you’re in reliable, stable and in capable hands

What is Aviva Clarity?

It’s our streamlined de-risking process aimed primarily at schemes with liabilities up to £100m. It has standard benefit structures that are designed improve a scheme’s access to market.

We launched Aviva Clarity in 2007, using our years of experience to help hundreds of smaller schemes to secure their members’ benefits.  We also accept larger schemes that are comfortable following a standardised de-risking process and are looking for a faster approach. Price locks are available for schemes of any size.

Our streamlined process offers a simple and efficient transaction process, with lots of innovative features.

Templates that suit you

We’ve got robust templates that can accommodate all main benefits and cater for a wide range of features. You’ll always get detailed and accurate pricing from us.

Information up-front

Things like benefit specification, member data and cashflows are produced before your quote, so we can make sure we’re in-line with your expectations.

Short timescales we’ll stick to

The time it takes to transfer an existing scheme to Aviva Clarity is significantly faster than a traditional quotation process.

Helping schemes look ahead with confidence

Learn more about how we can improve your schemes access to market with Aviva Clarity. Our brochure, aimed specifically at trustees and financial advisers, covers everything from the types of schemes we accept to exactly how our streamlined process works and our capability to support your de-risking ambitions.

Download our brochure

Why choose a bulk purchase annuity with Aviva?

Alongside our years of experience and specialist expertise in the BPA market, here’s how we could be the right choice for you and your members.

A provider you can really trust

We’re trusted by many. We service over 1.2 million UK annuities and pay around £3.5bn of annuity benefits to members every year. 

A solution for years to come

With an estimated Solvency II ratio of 203% as of 31 December 2024, our meticulous approach to sourcing assets means our annuities provide reliable cashflow for years to come.

Solutions that understand you

Understanding our customers is what we do best. We listen to your objectives, obligations and risks to create solutions that are the perfect fit for you and your members.

Changing things for the better

Shaping a better world is at the heart of everything we do. In fact, with £18 billion invested, we're one of the largest investors in UK infrastructure, helping build schools and health centres, and developing sustainable energy. So that whatever the world faces, we're ready for it in the UK. 

Our financial strengh

Aviva’s strong financial strength and ability to pay obligations to policyholders has been recognised by global credit rating agencies, including S&P, Moody's and AM Best, who have independently assigned investment grade financial strength ratings (AA- / Aa3 / A+) to rated entities.  

Frequently asked questions

Do I need to prepare the scheme’s data before sending it to Aviva?

Yes. We generate our quotes based on the data and benefits you provide in our data template, so it’s expected that the data is prepared and checked before it’s sent to us. It doesn’t need to be perfect, as there’s time for fine-tuning later down the line, but it’s better to have done most of this before we get started. 

Can Aviva Clarity be tailored specifically to the scheme?

We know there’s no such thing as completely standardised benefits. We can cater for a wide range of scheme features, but ultimately there might be some schemes we’re unable to provide a quote for. 

What if the data changes after the annuity is set up?

We understand changes to member data like postcodes, deaths and transfers out is always expected. Small changes to premiums up to 5% will simply result in a premium adjustment. We’ll need to re-price the transaction for anything over 5%. 

Are price locks available?

Yes, they’re available for schemes of any size. 

What to do next

Trustees or advisers looking to de-risk a defined benefit pension scheme should contact an Employee Benefit Consultant to ensure their scheme is prepared and in a position to approach the market.

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Building up a set of services can help provide a fuller, more rounded package, both for you and your employees. Here's how else we can support you.

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Group health insurance

Consider adding private medical insurance to your employee package, with ways to tailor it to suit your needs and budgets.

Business insurance

Find out how we can help arrange the cover you need, including your vehicles, your premises, and your liability.