Aviva, one of the UK’s leading insurance and pension providers, has launched a new financial wellbeing tool aimed at helping workplace pension members better manage their financial health.
Initially available to members of the Aviva Master Trust, the free tool can be accessed through the Aviva app and its online pension portal. Alongside supporting individual members, it also gives employers and trustees visibility into workforce engagement with the tool, allowing them to tailor financial support accordingly.
Rather than relying on complex financial data or income figures, the tool takes a confidence-based approach, asking users questions about the financial topics that matter most to them. From there, it generates a personalised action plan with practical steps designed to build financial confidence over time. Progress is tracked incrementally, with the aim of connecting everyday money decisions to longer-term pension planning and retirement outcomes.
The tool is built with accessibility in mind, using plain language to ensure it can be used regardless of a member’s level of financial knowledge. It also provides resources to help members begin taking independent control of their finances.
Aviva workplace pensions director Simon Ellis said: “Supporting people’s financial wellbeing has never been more important, especially because defined contribution pension savers now face greater responsibility and more complex decisions. In the workplace, feeling stressed about finances can negatively impact productivity, employee engagement and overall wellbeing – making effective budgeting and pension saving tools increasingly valuable.
“Our new tool is designed to support and empower our workplace pension members in managing their financial health by gauging confidence and offering personalisation, accessibility and continuous improvements. It reflects our commitment to helping pension savers, employers and trustees get ready for better retirements. Our aim is to make financial wellbeing support easier, smarter, and more impactful.”
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