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 and simple 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.
