Workplace savings

Your American Express UK Savings Plan launched in January 2021 with your enrolment into the Aviva Master Trust Workplace Retirement Account

The Plan gives control over building a valuable pension pot for the future.

The Aviva Master Trust is different from our other pension offerings. It's governed by a Trustee Board which is wholly independent from Aviva and is supported by its independent advisers.

The Board focusses on the best interests of members at all times and the scheme is authorised and monitored by The Pensions Regulator ensuring that the Aviva Master Trust is well run and has high governance standards.

But the simple fact is that no two UK workplace pensions are exactly the same. Some can be more basic, with no online access. And some may not have much flexibility.

While others have a lot more going for them, like yours, and when you login to FYB Flex you’ll notice two separate products that sit alongside your workplace pension.

There are two additional products through Aviva, which are completely independent of your Aviva Master Trust.

The good news is that both products are designed to make investing easier for you.

Of course, it’s often helpful to start with a good reason to put money aside.

Maybe you'd like to help pay for your child’s university education.

Or maybe you feel the time is right for you to start a new savings habit.

All these objectives need a longer term plan.

That’s why you might be interested in the Stocks and Shares ISA and the Investment Account. Both of these have something in common.

First, like your pension these products are investment products and the money you invest in them can fall as well as rise in value and there are no guarantees attached to them.

Secondly, how much money you invest in each account is shown clearly and simply online.

Next, it’s convenient to invest.

And you can also make withdrawals when you like, unlike your pension. However, you do need to be aware that there may be restrictions on the amount you withdraw and there could be delays in processing the withdrawal.

So let’s look at more information about each product.

The Stocks and Shares ISA is an Individual Savings Account. It lets you invest in a wide range of investment funds in which your money has the potential to grow in a tax-efficient way.

No tax is currently paid on any income or capital gains made on the investments held in the ISA.

Each tax year, there’s a limit to how much invest in an ISA. And you can top up your ISA with regular or single payments.

There are different ways you can do this, including regular monthly payroll deductions, you’ll find more information about your options via For Your Benefit Flex.

But that’s just one product.

There’s also the Investment Account. This type of account isn’t an ISA, but it also lets you invest in a wide range of shares and investment funds.

Although it doesn’t have the tax advantages of an ISA, there are no limits on how much you can invest.

And like the ISA, you can make regular or single payments.

So those are the products.

And online, you can easily find out what your pension, ISA and Investment Account are worth, safely and securely in one place, like in the example shown here.

Of course, investing without a safety net isn’t for everyone.

And you might feel more comfortable keeping your money in cash at your bank or building society. But basically, it’s about two steps.

One, You need to read the information carefully and consider which option is right for you. We have lots of information to help you make a balanced decision. Or

Two, when you've considered all your options then you can make it happen.

Everyone is different, and the choice is yours and yours alone. And finally, a word about the fact that investing involves fees and charges. 

That’s because managing investment funds and putting money to work involves the costs associated with buying and selling assets in stock markets.

So there are charges for investing in the Stocks and Shares ISA and the Investment Account. So before you decide to invest, make sure you get the full picture on everything you need to know.

And remember that on ISAs, any tax advantages depend on your individual circumstances and can be changed.

You can find full details at: workplace.aviva.co.uk/americanexpresssavings/

The Stocks and Shares ISA and the Investment Account can run alongside the Aviva Master Trust Workplace Retirement Account. All these American Express UK Savings account options are available each month in FYB Flex.

Easy to understand, convenient, and all in one safe place. 

If you’re busy buzzing away each day -...

...you’ve probably got a job to go to...

...a family to take care of...

...and a home to look after so saving for your future may not be the highest priority.

but time goes by quicker than you think, so retirement might not be too far away.

The sooner you act – even if it’s saving just a small amount -

... could mean the difference between a comfortable retirement and one that leaves you feeling...well, a little flat.

That’s why a workplace pension is the easiest way to build up a pot of money. Your employer sets it all up and will put your contribution in straight from your salary.

Normally, as long as you pay in, they’ll put money in too.

Some employers even match your contribution, so it’s worth checking how much they’re prepared to give you and building up as much in your pot as you can. Additionally you benefit from tax relief on your contributions, the way you receive this will depend on the type of pension scheme you're in.

Unlike a savings account, your pension savings are invested. This is to help your savings grow...

and the earlier you start saving, the more time they have to grow. You do have to be aware that investment values can go down as well as up and you could get back less than the amount paid in.

There are a number of ways you can take your money - with up to 25% being tax-free. You’ll also be able to claim a State Pension when you’re old enough - as long as you’ve made enough qualifying national insurance contributions.

From April 2025 the current full new State Pension is £230.25 per week - probably not enough on its own to live comfortably but...

if you’ve built up a workplace pension, it can be a good boost to your savings.

To see what your future could look like visit our easy-to-use, interactive Shape My Future tool (Shape My Future: About You - Aviva) which helps you see how much you’re saving and picture what your retirement could look like.

Welcome to your new American Express UK Savings Plan.

This video is all about your new American Express UK Savings Plan and your journey to retirement.

The American Express UK Savings Plan is a section of the Aviva Master Trust.

The Aviva Master Trust is different from our other pension offerings.

It’s governed by a Trustee Board which is wholly independent of Aviva and is supported by its independent advisers.

The Board focusses on the best interest of members’ at all times and the scheme is authorised and supervised by The Pension Regulator ensuring that the Aviva Master Trust is well run and has high governance standards.

So from the moment you start your retirement journey with us, here's some of the things you can expect...

When you start your journey, you'll need some support.

You’ll soon receive your pension guide where you can find out more about your American Express UK Savings Plan.

Keep an eye out for your welcome pack explaining how you can check your pension and access the support you need.

It can be hard to see if you're on the right road towards the retirement you want, so we'll give you access to useful videos, online tools and easy to read information.

So, no matter how far you are from your retirement we can help prepare.

Don't worry about losing your way.

We'll be in touch with reminders and support throughout your journey.

So you'll get lots of help.

But you're still in the driving seat because we've made it easy for you to take control of your pension yourself.

Once your new American Express UK Savings Plan is up and running, you'll be able to register for our safe, secure online account.

Here you can view your pension’s value quickly and easily.

You'll also be able to..

Make changes to your personal details.

Set your preferences so you get your pension information in a way that's right for you.

Check the amount you're paying in, direct how your money is invested and make one off payments.

You can also go to the FYB Flex benefits platform available on The Square to be able to view the contributions you and the company make and if you want to increase your contributions to take advantage of the company match.

Start the process to transfer other pensions to your American Express UK Savings Plan, if that's the right decision for you.

And, access our pension planning tool to help and support you along the way. The money in your pension is invested to help it grow over the long term and it pays to keep an eye on the performance of your investments. It's important to note that the value of your investment can go down as well as up and you could get back less than has been paid in.

If you would like any information in the meantime visit workplace.aviva.co.uk/americanexpresssavings

There is also access to the following investment products to suit your medium to long term needs:

Stocks & Shares ISA

General Investment Account

It's great to be starting out on our journey together. We'll be in touch soon a little further down the road.