Planning for and keeping track of the income you’ll have for the future starts today. To help you reach your retirement goals, you contribute and invest your own money into the Aviva pension scheme.
All full-time employees are eligible to participate and are enrolled automatically on their date of hire
Funding the scheme
Contributions:
- Rivian contributes 5% of your pensionable salary to the scheme.
- You must contribute a minimum of 3% of your pensionable salary.
The money contributed to your account is not taxed.
You can opt out and receive a refund within 30 days of enrollment.
Investing your money
You choose which funds to invest in. To help you get the most of investments throughout your life, no matter your age, Aviva offers the My Future Focus Member Guide. The My Future Focus programme invests your pension contributions in funds based on your life stage—riskier funds at the beginning of your journey and safer ones as you near retirement age.
If you do not make an election, your funds will be invested in the Aviva Insured Multi Asset Fund III.
You can change your investment selections at any time online.
Making withdrawals
Once you are 55 years old, you can use the money in your account for your retirement. You can receive your pension benefit as income, a lump sum or a combination of both. Aviva will contact you prior to your retirement to review your options with you in detail.
What happens when you retire or leave the company
Before age 75, you must decide how to receive your pension benefit. If you want to leave your money invested in your account after 75, you’ll have two options:
- Take your pension benefits through income withdrawal.
- Move your pension to a scheme that allows you to keep your pension after 75.
Online access
After your first contribution has been paid, you’ll receive an Aviva pension scheme pack with details on how to log in to view your account.
Once you enrol, you can view your investments, monitor your rate of return, and change your investment selection.
Want to learn more?
Dive deeper into your pension scheme and learn more about how to invest your contributions with these resources:
