Your Financial Future 

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Hello and welcome to this webcast recording provided by Aviva who provide your pension.

You may pause or rewind this recording at any time.

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Before we go any further there is some important information that we need to share with you.

The following presentation should not be regarded as giving any form of financial or investment advice. You shouldn't make decisions on the basis of this presentation alone. If you require advice you should contact a financial adviser. You can find one at the link shown on the screen.

This presentation is based on Aviva’s interpretation of present laws and HM Revenue & Customs practice for the current tax year. The tax benefits may change at any time and their value depends on your personal circumstances.

The value of an investment can fall as well as rise and it is not guaranteed. You may get back less than the amount that’s been invested.

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So, what are we going to be covering today and how can we help you. Please pause and take a moment to read the screen before moving on.

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Reasonings for saving

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There are three main reasons for saving regularly, which are outlined on the screen now.

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There are three main reasons for saving regularly:​

For emergencies​, to fund luxuries​ and to live comfortably in the future​​.

Think about what you’re saving for. How long will it take to save for what you need and what is the best account to use. Most people understand the importance of saving. When we think about our savings goals it’s good to think about the period of time we need to save for and then identify the most suitable product or savings account to help us achieve our goals.

It is best to break our savings goals into three categories, short, medium and long term.

So have a think about your short, medium and long term savings goals. Are you saving in the most suitable accounts to achieve your goals?

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The information on screen outlines what a Lifetime ISA is and how it works. 

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If you've had your Lifetime ISA (or LISA) for over a year, you're able to take the cash out as a first-time buyer, but you must make sure you're following the rules shown on the screen. 

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Over a longer term you may be focussed on a more comfortable lifestyle in the future. A pension can help you pay for the lifestyle you want when it’s time to stop work or slow down, some more information is shown on screen.

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When money is paid into savings or investments it is often with the aim of long-term growth. Starting early can be a good idea for a number of reasons but is partly thanks to compound growth, the result of reinvesting any growth received. This could have a significant impact on the value of your savings and investments in the long term. This example shows how an initial investment of £10,000 could grow to £16,289 after 10 years, based on a return of 5% each year. This rate of return is purely for illustrative purposes. However, remember investment returns are not guaranteed, you could get back less than you have paid in.

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Your compnay pension scheme 

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Aviva has also developed three ‘rules of thumb’ for retirement saving to help people be better financially prepared:

The first: The 10 Times Rule: Aim to have saved at least 10 times your annual salary by the time you reach retirement age

The second: The 12.5% Rule: aim to save at least 12.5% of your monthly salary towards your retirement. This includes contributions from employee, employer and the government and

The Third: The 40 Year Rule: aim to begin saving at least 40 years before your target retirement date

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A great way to save could be through your company pension scheme. This is because it's tax-efficient; your employer pays in, too; They’re your pension savings - so if you leave your employer, you can take them with you, And It’s flexible, meaning you can decide how much you   would like to contribute, where the contributions are invested, and at what age you would like to take the benefits. You can access your savings from the 'minimum pension age' set by the government. This is currently 55 but is rising to 57 from 6 April 2028. You may be able to access it earlier such as when you have a protected pension age or can't work due to ill health or incapacity.

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The example on screen shows the benefit of tax relief and your employer contribution.

The example is based on a £30,000 salary with a 5% employee and 3% employer contribution for England Wales & NI (figures in Scotland would vary).

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Next Steps

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There are various next steps for you to consider. Please pause and take a moment to read the information on the screen before moving on.

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As a member you will have access to an online account making it easier for you to plan and save for your future. In addition to giving you information about your pensions value and where your money is invested you will also have access to our tools and calculators.

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Aviva offer a wide range of seminars. Please speak to your employer to find out more information or scan the QR code on the screen.

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Thank you for listening we hope this presentation has been useful.