Marvin OnumonuAviva has launched a new financial wellbeing tool aimed at helping its workplace pension members manage their finances.
The tool is currently available for free to members in the Aviva Master Trust and can be accessed through the Aviva app and the online pension portal.
The tool asks confidence-based questions instead of using complicated financial data or income figures.
It then offers each member a personalised action plan with steps to improve financial confidence.
The language is kept simple to make it easy for anyone to use, no matter their financial background.
Members are given resources to help them take control of their finances independently.
Progress is tracked over time, showing how small steps can lead to better finances and wellbeing.
The tool links daily money decisions to pension planning and long-term retirement goals.
Simon Ellis, workplace pensions director at Aviva, said: “Supporting people’s financial wellbeing has never been more important, especially because defined contribution pension savers now face greater responsibility and more complex decisions.
“In the workplace, feeling stressed about finances can negatively impact productivity, employee engagement and overall wellbeing – making effective budgeting and pension saving tools increasingly valuable.
“Our new tool is designed to support and empower our workplace pension members in managing their financial health by gauging confidence and offering personalisation, accessibility and continuous improvements.”
Ellis added: “It reflects our commitment to helping pension savers, employers and trustees get ready for better retirements.
“Our aim is to make financial wellbeing support easier, smarter, and more impactful.”
