Frequently asked questions

The money you invest into your pension doesn't just sit there waiting for you to retire. Aviva pools your money with that of other investors and invests it with the aim of growing your pension fund. Pooled funds are a way of putting sums of money from many people into a large fund spread across many investments and managed by professionals.

Investing this way can be easier and less risky than buying shares directly and there are lots of funds to choose from. Please bear in mind that the value of your pension fund can go down as well as up and it may be worth less than the amount paid in.

Your employer will have selected an appropriate default investment fund suitable for most pension plan members. A default fund is where your money is invested if you don’t want to choose your own investments. The default fund for the Whitbread Pension Plan is called My Future Focus. You can find out more about My Future Focus on the Key Documents page.

If you are happy to make your own investment decisions and to regularly check that they continue to meet your needs and attitude to risk, there a number of investments to choose from.

• You can choose funds that invest in a particular asset class, sector or part of the world.
• Each fund carries its own level of risk, so you can invest your money according to your own personal circumstances.
• For more information on the fund options available please refer to your member booklet.

The Whitbread Pension Plan is part of the Aviva Master Trust pension scheme. A Master Trust manages pensions for lots of employers. It's run by Aviva and looked after by a Trustee Board.

It's the Trustee Board's job to make sure that the scheme is run for the benefit of its members. You can find out more in your member guide on the Key Documents page.

When you join the Whitbread Pension Plan, your pension contributions will automatically be invested in the Aviva Master Trust’s default investment strategy - My Future Focus Universal Lifetime.

This investment option is designed to:

• help grow your pension savings over the long term, and
• we reduce risk throughout the retirement journey in My Future Focus.

When your pension savings are transferred from the Whitbread Group Pension Fund (your old pension) into the Aviva Master Trust (your new pension), they will also be invested in this default option, unless you choose a different investment option before the ‘blackout period’ starts on 29 September 2026.

The blackout period is the period during which you won’t be able to carry out certain online tasks within your new Aviva pension. You’ll still be able to view your pension online, but you won’t be able to make changes, such as switching investments, until the transition is complete. Once the blackout period ends, you’ll be able to make changes to your investment choices at any time. We’ll let you know as soon as the transition has been completed.

Please remember, pension values can go down as well as up, and you may get back less than you paid in.

What happens if I choose a different investment option before the transfer?

If you choose one of the investment programmes listed below before your pension transfer takes place, your transferred savings will be invested in your selected option:

• My Future Focus Target Annuity Lifetime
• My Future Focus Target Drawdown Lifetime
• My Future Focus Target Cash Lump Sum Lifetime
• My Future Universal Lifetime
• My Future Target Annuity Lifetime
• My Future Target Drawdown Lifetime
• My Future Target Cash Lump Sum Lifetime
• Stewardship Lifetime
• Shariah Lifetime
• Shariah Target Drawdown Lifetime

What happens if I’m invested in a Shariah self-select fund?

If you invest in one or more of the Shariah self-select funds listed below, your pension savings will move into a Shariah lifestyle strategy based on how far you are from retirement:

• Shariah Long Term Growth Fund — if you are more than 15 years from your selected retirement date
• Shariah Growth Fund — if you are between 15 and 5 years from your selected retirement date
• Shariah Consolidation Fund — if you are within 5 years of your selected retirement date.

The Shariah self-select funds are:

• Aviva Pension MyM Shariah Long Term Growth
• Aviva Pension MyM Shariah Growth
• Aviva Pension MyM Shariah Drawdown
• Aviva Pension MyM Shariah Consolidation
• Aviva Pension MyM HSBC Islamic Global Equity Index
• Aviva Pension MyM HSBC Shariah Multi Asset
• Aviva Pension MyM HSBC Global Sukuk Index

What happens if I’m invested in another self-select fund?

If you are invested in any other self-select fund or investment programme not listed above, your pension savings will automatically move into the following funds based on how far you are from retirement:

• More than 15 years from retirement
  → My Future Focus Long Term Growth Fund
• Between 15 and 5 years from retirement
  → My Future Focus Growth Fund
• Within 5 years of retirement
  → My Future Focus Consolidation Fund

What is my Selected Retirement Age (SRA)?

Your Aviva account will automatically be set up with a Selected Retirement Age (SRA) of 65.

Your SRA is the age Aviva uses to plan how your pension investments are managed as you approach retirement.

If you plan to retire earlier or later than age 65, you can update your SRA by logging in to your MyAviva account.

No – only you can access your individual secure account.

Your Aviva products, including your pension, belong to you. However, if you change employer, there may be some changes to the investment options available to you. Also, depending on the type of pension, you may not be able to continue to pay in. When you leave your employer, Aviva will send you a pack to your home address which details your options, as well as providing contact details should you have any questions.

You can get more help with pensions at MoneyHelper, a free government-backed guidance service. They provide lots of information to help you make informed choices, but won’t give personal advice.

For advice that’s about what’s best for you, speak to a financial adviser. If you don’t have an adviser, MoneyHelper provides up-to-date resources to help you find regulated advisers. Advisers may charge for their advice, but there are usually a number of ways to pay.

Unless you're already a member of a pension plan that meets the government's standards, your employer will have to enrol you into their workplace pension plan if you:

1. are aged 22 to State Pension age

2. ordinarily work in the UK, and

3. earn £10,000 or more a year (this is the figure for the 2026/2027 tax year and it may change).

But you can opt out if you want to. If you do so within one calendar month of receiving written confirmation of joining the plan, any contributions already paid will be refunded.

If you opt out later, this money will stay in your pension. We will check that your opt-out note includes everything it needs to include and will let you know.

Remember that if you opt out, you may be able to change your mind and opt back in. Please contact your employer if you would like to start contributions again if you do opt out.

If you stay opted out, your employer will normally put you back into their workplace pension after around three years if you are an eligible jobholder – that is, you’re aged 22 or over and earn above the minimum earnings threshold for auto enrolment. But you can again choose to opt out. Remember that the sooner you join the pension plan, the better your chance of a more comfortable retirement.

The amount you should pay into your pension depends on your circumstances and priorities, but please bear in mind that your employer may set a minimum contribution level. You will probably have to maintain that level of contribution in order to receive pension contributions into your pension from your employer. 

One of the ways you can fund your retirement is by investing some money in a pension, which can:

• Supplement your State Pension
• Potentially give you greater financial security during your retirement
• Give you a tax-free lump sum from part of your pension benefits when you retire. This will normally be 25% of the value of your pension. This is based on current tax rules and could change in the future. The rest will be taxed as income tax. 

A pension is a good way to invest for your retirement. You make payments into your pension and your employer will contribute too, so long as certain rules are met. You could also get tax relief on your contributions.

Even if you receive a state pension (and any other government benefits, if you're entitled to them), it's important to bear in mind that it might not be enough to fund the lifestyle that you want. You need to feel confident you're going to have enough money to provide you with a reasonable income during your retirement.

The more you can invest during your working years, the better standard of living you're likely to have when you retire. So the earlier you start paying into your pension, the better. By doing this, you'll be able to invest more money over a longer period of time and your pension will have longer to grow. Saving for retirement takes time and things can change. We therefore suggest you review your investments and your pension regularly so that they're aligned with your plans for retirement. Just be aware that the value of your investment in your pension can go down as well as up and may be worth less than the amount paid in.

Your money is normally invested in funds when you pay it into a pension. When your money goes into funds, Aviva or the fund manager of your chosen investment pools your money with that of other investors and invests it with the aim of growing your pension savings. Pooled funds are a way of putting sums of money from many people into a large fund spread across many investments and are managed by professionals. Investing this way can be easier and less risky than buying shares directly, for example. 

With many pensions you can usually choose which funds to put your money into. There are many different types of funds, including ones invested in the key asset classes (company shares, bonds, property and cash) and ones that have different risk levels, giving you plenty of options to choose from. If you're not sure which one(s) to pick, a financial adviser will be able to make recommendations for you. If you don’t make an active investment choice your payments will be invested in the default investment option chosen for your workplace pension.

Investment options usually differ in:

• The way they’re managed
• The assets they invest in
• The level of risk they take and the level of reward they’re aiming for.

Different funds take different levels of risk. A lower risk fund might aim for steady growth over a long period of time with a lower risk of losing money. A higher risk fund will usually be aiming for higher long-term growth but there is also a greater risk of losing money.

The types of assets that a fund invests in are an important factor in the returns you’re likely to get and the amount of risk that you’re taking. A higher risk fund might invest in the shares of companies in either the UK or overseas which have the potential to provide good long term returns, but are also likely to see large ups and downs in value. A lower risk fund might invest in developed market government bonds (from the UK, Europe and US), which normally offer lower returns but also have a lower risk of losing money. However, it is important to be aware that, as with all investments, government bonds do carry some degree of risk - they are liable to the risk of interest rates going up and the risk of the government that has issued the bonds being unable to pay back the money it has borrowed in the financial markets. It is important to bear these risks in mind. 

Aviva will send you a yearly pension update. It shows you how much you've invested to date, and the current value of your pension as well as any charges you have paid.

You can also monitor and manage your pension online at any time by logging into your online account.

Help is always at hand if you have any questions about your pension, or if you want to make any changes to it. You can use the contact details on this site to contact:

• Whitbread – for information about things like contributions
• Aviva – for information about managing your pension
• A financial adviser – for personal advice around your pension and your financial circumstances in general.

If you want to manage your pension yourself, you can do it online by logging into your online account. Your online account lets you see how much your pension is worth and request changes to your pension. 

Aviva is the company that your employer has chosen to provide your workplace pension. 

Once you've paid money into your pension, you can usually take your benefits from the minimum pension age. This is currently age 55. From 6 April 2028 this will be 57 unless you have a protected pension age. To find out more visit www.aviva.co.uk/nmpa. 

It is important to remember that there are two separate stages to a pension. The first is the money you build up in your pension from the payments you invest. The second is what you do with the money in  the pension savings you have built up. There are different options available, and you should take financial advice or guidance before choosing.

As you approach your chosen retirement date, or when you tell us you wish to take your pension savings, we will inform you of your options and the pros and cons of each.

Help is also available from the government's Pension Wise service from MoneyHelper service. This offers free and impartial guidance on your retirement options, either over the phone or face to face. You can find out more at the Pension Wise website: Pension Wise: free pension guidance | MoneyHelper

Absolutely. You can bring your retirement age forward or move it back. You can usually take your pension savings from the minimum pension age. This is currently age 55. From 6 April 2028 this will be age 57 unless you have a protected pension age. To find out more visit www.aviva.co.uk/nmpa.

If you want to wait until after age 75, you might need to move your pension savings to another provider or pension product, before your 75th birthday.  If you want to wait to take your retirement benefits until after age 75, we recommend you seek financial advice first.

If you already have another pension plan (perhaps from a previous employer), you may be able to:

• continue paying into your existing pension as well as into your workplace pension
• leave your existing pension where it is and make all future payments into your workplace pension
• transfer your existing pension to your workplace pension.

The choice is yours. There’s no guarantee you’ll be better off by transferring. If you do think transferring your existing pension is an option for you, it’s important to check whether you could lose any valuable benefits or guarantees that your existing plan may provide, or whether your current provider may charge exit fees for transferring.

We recommend you seek independent financial advice to help you understand your options. In some cases, you may be required to obtain advice (for which a fee will be charged) before proceeding.