Aviva  

Aviva introduces pension summary feature for savers

Aviva introduces pension summary feature for savers

Aviva has started the initial roll-out of the pension snapshot feature on its app for workplace pension savers.

According to the provider, the pension snapshot feature uses technology to give customers a quick and personalised summary of their pension over the last 12 months.

It has compared it to a “year in review” feature which savers may have seen on other apps which track activity such as running goals or music playlists.

Savers can see their pension fund value, how many funds their pensions is invested in, investment performance, retirement age and a forecast of its potential value and income at retirement.

Aviva has introduced the feature to help people engage with their pensions more.

Those who have been included in the initial roll-out will have until the end of the month to view their Aviva pension snapshot. 

Aviva will then monitor feedback with a view to making it available to more of its pension customers over the next six months.

Emma Douglas, director of workplace savings and retirement at Aviva, said: “We think that making the most of this innovative technology will help to improve customer understanding and interaction with pensions, leading to better outcomes when it comes to retiring.

“We think our customers are likely to view the pension snapshot feature because it is app-based, bite-sized and succinct. We believe better customer engagement with pensions can be built through digital technology, and will ultimately lead to better retirement choices.”

The individuals who can currently see their pension snapshot are those with an Aviva group personal pension or individual pension and have registered for the MyAviva app.

They must also need to have had their pension for longer than 12 months, are not withdrawing any benefits and live in the UK.

amy.austin@ft.com

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