Consumers' Association has chosen Aviva to help you make the most of your savings.
The Consumers' Association pension provides you with your own pension to save for your retirement. Your pension enables you to build up a pot of money that can be used when you retire. It gives you a tax-efficient way to invest, and you could benefit from a regular employer contribution.
When you think ahead to your retirement, it can feel like there’s a lot to consider - how much you can afford to save right now and the sort of income you might need when you retire. Whatever stage of pension planning you’re at, the sooner you start saving, the more likely you are to be able to enjoy the kind of retirement you want.
Pension contributions from your salary will be invested automatically in your pension.
It's important to remember that the money invested in your pension is invested in funds. This means your pension has the potential to grow over time. However, it also means the value of your pension could go down as well as up and may be worth less than the amount paid in.
Register for an online seminar today.
To view dates and times, register for a session and find out more, simply visit the link below.
You can find further information about your pension scheme within the documents below. These documents may be updated – you can find the version date of the document on the bottom of the last page. If you require a previous version of a document, please get in touch.
Please read the scheme documents to learn more about where your money will be invested.
To help you with your retirement planning, we provide a range of planning tools so you can think about the kind of income that your pension savings could provide for you. You can look at the amount of pension savings you might have when you reach retirement and what impact making changes to your pension contributions could have.
Can help give you an idea whether your potential retirement income will fund the lifestyle you want.
Learn more about the future of your pension plans and how long your money might last in retirement.
FInd out more about your pension by watching these short videos.
Aimed at a younger audience and answers the big questions, How much should I save? Who else pays into my workplace pension? How much is the state pension and do I qualify?
Aimed at savers who are in the middle of their savings journey and answers the big questions, How much might I need to put aside? Do I get money from the government? How much is the state pension and do I qualify?
Aimed at members who are almost done saving and answers the big questions, What are my choices at 55? How can I use my pension pot to help fund my retirement? How can I find out if I’ll have enough in my pot?
Pension planning?
That’s something you can worry about later?
The fact is that tomorrow comes around sooner than you think
The fact is that tomorrow comes around sooner than you think
So by saving money now it could lead to you having a better chance of you enjoying the future you want
So by saving money now it could lead to you having a better chance of you enjoying the future you want
This is the current weekly state pension for a single person. You need to have 35 years National Insurance Contributions to get this much, which is the full amount. Wouldn’t want to live on that? Maybe not.
So, what other money could you have to live on?
So, where do I begin?
First, find out what you have already have, and what you could have when you retire.
There’s the state pension, of course….
Think about any money you’re saving in a bank or building society account,
or an ISA. Factor that in.
You need to remember that your pension savings is invested to try and help it grow- and, as with any investment, the value can go down as well as up and you may get back less than has been paid in
Next, if you have a workplace pension, check how much is being paid in each month.
Alongside contributions from your employer, one of the benefits of a workplace pension is that you will normally be eligible for tax relief from the government on your personal contributions.
So if you’re a basic rate tax payer, every £100 which goes into your pension savings will cost you £80*
*If your payments are made through a salary sacrifice arrangement
with your employer you’ll also benefit from National Insurance savings.
Next, think about what you’re going to need when you’ve finished working. To help with retirement planning visit our website.
You’ll find videos, calculators and online tools.
Our Shape my future tool can help you get an idea what your future could look like, and what you can do to make a changes now.
If you want to make changes to your workplace pension you can do this through your MyWorkplace account.
So, in summary, find out what you’ve already got: plan how much you might need- and then take action.
Remember, if you really want to make a difference to your future,
there’s no time like the present to act.
When you get around to thinking
about your finances, what sort of
things spring to mind?
A mortgage or a car loan? Looking after a family?
Paying the bills? Probably not pensions, though.
The fact is that tomorrow comes
around sooner than you think
The fact is that tomorrow comes
around sooner than you think
First, find out what you have already, and
what you could have when you retire. Your
annual pension statement can help here.
There’s the state pension, of course…
This is the current weekly state pension for a single person.
You need to have 35 years National Insurance Contributions to
get this much, which is the full amount. Would you want to live
on that? Maybe not.
So, what other money could you have to live on?
Think about any money you’re saving in a bank or an ISA.
Factor that in.
Next, if you have a workplace pension, check how much
is being paid in each month.
The benefit from a workplace pension is that you will normally
be eligible for tax relief from the government on your personal
contributions.
So if you’re a basic rate tax payer, every £100 which goes into your
pension savings will cost you £80*.
* If your payments are made through a salary sacrifice
arrangement with your employer you’ll also benefit from
National Insurance savings. Next, think about what you are going
to need when you’ve finished working.
Think about whether you can afford to save some extra money from
your salary. Putting aside just a little now could still make a big
difference later.
You need to remember that your pension savings is invested
to try and help it grow- and, as with any investment, the value
can go down as well as up and you may get back less than
you put in. That’s why it’s important to keep a close eye on
the value of your pension and other investments.
If you want to make changes to your workplace pension you can do
this through your MyWorkplace account.
So, in summary, find out what you’ve already got: plan how much
you might need- and then take action.
And remember, however busy you may be right now, it’s worth
taking time out to think about your future…while there’s still time
to make a difference to it!
To help with retirement planning visit our website.
You’ll find videos, calculators and online tools.
Our Shape my future tool can help you get
an idea what your future could look like, and
what you can do to make a changes now.
You’re getting closer to your
selected retirement age which
means more freedom to do the
things you enjoy.
To make the most of this new stage in your life
you need to give some thought to your options,
needs and goals. So, where do you begin?
First, find out what you already have, and what you
could have when you retire. There’s the state pension,
of course.
This is the current weekly State Pension for a single
person. You need to have 35 years National Insurance
contributions to get this much - which is the full amount.
Want to live on that? Maybe not, so what other money
could you have to live off.
Chances are, your workplace pension savings will
also play a big part in planning the kind of future
you’d want for yourself.
Think about any money you’re saving in a
bank or building society account, or an ISA.
Factor that in.
There are a number of ways to take your money,
such as: taking all the money as cash; taking
it as a guaranteed regular income, or perhaps taking
it as a more flexible income as and when you need to.
Before you make a decision on how to take money from
your pension savings, you need to get a clear idea of how much
you have there, and how it’s invested.
If you want more help thinking about pensions and retirement,
a good place to begin is MoneyHelper, the government-backed
free guidance service.
If you are over 50 you can use the Pension Wise service, from
MoneyHelper, online or by phone on 0800 138 3944. They offer a free
face to face or telephone guidance session
They won’t tell you what you should do, but they’ll provide you with
information to help you understand your options.
For more tailored advice, you should speak to a financial adviser. Bear
in mind they may charge a fee for this advice. If you don’t have an
adviser,
you can find an up-to-date list of regulated advisers at MoneyHelper
https://www.moneyhelper.org.uk/en/pensions-and-retirement/takingyour-
pension/find-a-retirement-adviser
You can access MoneyHelper online at
http://www.moneyhelper.org.uk or by phone on 0800 011 3797.
Pension Awareness Session
This session was recorded live, so unfortunately there is no transcript.
Registering for MyAviva
This session was recorded live, so unfortunately there is no transcript.
Updating your investments
This session was recorded live, so unfortunately there is no transcript.
Introducing our Pension Forecaster
This session was recorded live, so unfortunately there is no transcript.
Transferring a Pension
This session was recorded live, so unfortunately there is no transcript.
Nominating a beneficiary
This session was recorded live, so unfortunately there is no transcript.
Aviva can answer them
If you’re aged 40 to 49 and want to better understand your pension and investments, the experts at Aviva are on hand to help.
As you have a workplace pension with Aviva, you can book in a 20-minute consultation with the Customer Wealth Engagement Team.
The consultation is free and gives you the opportunity to discuss your pension and investment plans with a specialist. It can help you consider:
· Are your investments working hard enough?
· Do your fund choices reflect your ethical views?
· Are you in the right funds for your attitude to risk?
· Should you combine your pensions?
You can book your free consultation by selecting a date that suits you. A member of the team will then call you at the time of your appointment.
If you’re over 50 and thinking about your retirement options, the experts at Aviva are here to guide you.
As you have a workplace pension with Aviva, you can book in a 20-minute Retirement Preparation Review with the Customer Wealth Engagement Team.
The review is free and gives you the opportunity to discuss your retirement plans with a specialist. It can help you consider:
· Are you saving enough for retirement?
· Do your funds align with your attitude to risk and ethical beliefs?
· How can you better prepare for retirement?
· Should you combine your pensions?
You can book your free review by selecting a date that suits you. A member of the team will then call you at the time of your appointment.
Got a question? We are here to help
Calls to and from Aviva may be monitored and/or recorded.
pensions@which.co.uk
This site does not provide financial advice.
Impartial guidance and tools on savings and investments.
For financial advice please contact your financial adviser. If you don't have an adviser, MoneyHelper can help you find one in your area. An adviser may charge for their services.
