Case Study: Aviva uses flexible benefits to aid its rebrand

Aviva, formerly Norwich Union, has launched a flexible benefits scheme and website as part of its rebranding exercise.
Reward director Helen Jackson says the package is part of “an integrated in-depth campaign”. Part of this has been a review of pension investment fund choices, and a booklet explaining the new choices has been sent to staff. Karen Jones, pensions director at Aviva, says: “The default fund is a white-label lifestyle arrangement that uses two diversified strategy funds for the accumulation phase and switches to 75% bonds and 25% cash by retirement age. The aim is to minimise downside risk while offering reasonable growth prospects.” The scheme also offers five white-label funds in the core range based on the main asset classes and 12 funds in the extended range offering a choice of riskier assets and managers. Members can make fund switches online.