COVID-19 support and advice: Workplace savings and retirement

Everything you need to know at this time

COVID-19 had a significant impact on stock markets across the world. In turn, this saw an inevitable fall in the value of pensions and investments, in line with the markets they're linked to.  

The longer-term impact of COVID-19 on the financial markets is, of course, difficult to predict. We want to assure you that, in this uniquely challenging time, we’re actively communicating with our customers and are advising them to take financial advice before making any decisions relating to their pensions or investments.

Maintaining our service

Aviva invested heavily in technology which enabled our staff to work efficiently from home, so they could maintain our customer service levels. From the earliest stages of the outbreak, we’ve prioritised the technical needs of our customer-facing colleagues, as we aimed to minimise any impact to you and your employees.

Customer service was maintained and our telephone lines remained open. We made sure that we prioritised tasks that enabled us to deal with payments to our customers, as well as work relating to retirements and bereavements. Many of our key operations, such as processing and investing contributions, are automated and other tasks can be completed by our customers through self-service apps or websites. Thanks to this capability, and the diligence of our operational teams, we haven't experienced any material reduction in our ability to meet your needs and those of your employees throughout this period of uncertainty.

We continue to work closely with our third-party suppliers to further enhance our ability to maintain a high standard of customer service. We’re in regular contact with our fund managers, and we’ll be able to communicate any changes to funds promptly and clearly, should this become necessary.

Investments

Investment diversification is important during challenging times. The Aviva workplace pension default funds are designed to include a mix of investments – such as UK and international equities, UK property, UK fixed income and international fixed income – so they aren’t solely reliant on the performance of one investment market.

We’re in regular contact with our default fund management partners BlackRock – who oversee My Future – and Aviva Investors, who manage My Future Focus. Both managers continue to adopt a long-term perspective.

Rest assured that we’ll communicate any important changes to our members as they arise, frequently updating online information as well as sending out direct communications as appropriate. 

How to get in touch

If you have any questions, please visit the pension solutions contact us page. If you need to call us, waiting times may be longer than normal under the present circumstances.

COVID-19 support for other business products

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