Very yellow Bit dull Safe
Reliable. It works pretty well and is simple enough to navigate, even for beginners.
What we say
Holly's View
This is an OK option for investors or pensions savers who don’t want too much detail, minimum fuss and a big solid brand behind the scenes. If you have insurance with Aviva, you can see this on one convenient dashboard with any ISAs and pensions. One of the better big traditional players for pensions. Probably best for those who don’t want to do anything fancy.
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Overall Summary
Mobile & Apps
The Aviva app has been improved upon, with the ability to research, sign up, trade and add money all functional. It also neatly links to very mobile friendly web pages with good functionality and portfolio information. Like the desktop version, it is pretty good and simple to navigate. Despite not being integrated into the app, the mobile experience is easy to use.
Behind the scenes
The online experience is very traditional and works well enough. No complaints.
But then when the snail mail kicks in – OMG! The letters are substandard and alienating. We received five letters from Aviva after opening our test account. One of these was half complete and two of these had ‘Add Line 1’, ‘Add Line 2’ etc. in the address fields. The five letters could easily have been merged into one as they each contained a small piece of information about the new account.
The 'Geeky' Details
Provider details
A big household name, Aviva offers easy entry into the pension space with a £50 per month minimum. The website is nice and simple and offers a shortlist of 4 ‘ready-made’ multi-asset funds that spread your money around lots of different shares and investments. Ballpark costs for a pension with one of these funds (including fund charges) are 0.75%, which is £7.50 a year on £1,000.
For those that want to pick their own investments, there is a much wider range of funds available, but you can’t buy individual company shares.
Although the service and experience is relatively bland, there is some comfort in choosing a large, familiar brand. And it is fairly straightforward to park your money into a solution that is managed and maintained for you on an ongoing basis at a reasonable fee.
To boost your pension savings, you can make a one-off payment at any time.
Aviva administers the drawdown of its pensions and does not charge any additional fees for this.
Important Facts & Figures
Provider Size:
Large insurance and pension firm / huge global brand
Minimum amounts:
£5000 minimum initial lump sum
£25 minimum monthly amount
Aviva