Aviva launches financial wellbeing tool for workplace pension members

Aviva has launched a financial wellbeing tool aimed at helping workplace pension members better understand and manage their financial health.

Initially available to members in the Aviva Master Trust, this free tool can be accessed via the Aviva app and online pension portal. It is designed to assess how individuals feel about their financial situation using confidence-based questions rather than complex financial data or income inputs.

Based on user responses, the tool generates a personalized action plan with practical steps intended to improve financial confidence. Progress can be tracked over time to show how incremental changes may affect overall financial wellbeing and retirement readiness. Employers and pension trustees will also receive insights into how their workforce engages with the tool, allowing them to tailor financial wellbeing support.

Aviva said the tool will gradually be rolled out to additional pension customers over time.

“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.” – Simon Ellis, Workplace Pensions Director at Aviva.