Aviva Staff Pension Scheme

Aviva Staff Pension Scheme

Aviva Staff Pension Scheme was established in 1979. Aviva plc serves as the sponsoring employer. The scheme operates through Aviva Staff Pension Trustee Limited and covers material defined benefit liabilities in three countries. The scheme targets a 15 percent allocation to UK commercial real estate and holds a portfolio of renewable energy infrastructure assets focused on solar and wind projects. It has completed two bulk annuity buy-ins with Aviva Life & Pensions UK Limited, one in 2019 covering 5,800 members and one in 2020 covering 2,800 members. A 2014 longevity swap with Swiss Re, Munich Re and SCOR hedged risk for approximately 19,000 members. The scheme also commits as a limited partner to UK private equity managers including Alcuin Capital Partners, ECI Partners, Charterhouse Capital Partners and Hg. The trustee board is supported by Hymans Robertson as investment advisor and actuary and by Linklaters and Slaughter and May as legal counsel. Aviva Investors manages certain assets. The scheme maintains memberships in the Pensions and Lifetime Savings Association and reports in line with TCFD recommendations. In March 2026 the scheme participated as a speaker at the Pensions UK Investment Conference in Edinburgh. The scheme sits within the Aviva Group structure yet maintains a separate trustee board and investment committee. This separation governs asset allocation decisions and risk hedging programs independently of the sponsoring employer.