The Aviva Master Trust has exceeded £15bn of assets under management, as pension schemes continue to scale upwards.
The master trust is now used by more than 550 employers, looking after the pensions for more than 500,000 individual members across the UK.
Announcing this latest milestone Aviva said growth has been driven by a combination of new employer mandates alongside consistent contributions from existing members and “resilient” investment performance, despite the more challenging economic backdrop.
Scale has become a watchword in the workplace pensions sector, with the government introducing new targets for schemes to reach £25bn by 2030, under Rachel Reeves’ Mansion House reforms.
Aviva also highlighted a series of enhancements it has made to its master trust over the past 12 months. This includes a new guided retirement option, which follows a ‘flex and fix’ decumulation model, its Shariah lifestyle investment strategy during the accumulation phase, and new tools available on its portal and app, designed to highlight the impact longer term impact of career breaks and reduced working hours.
In addition, the Aviva Master Trust has also made changes to the trustee board over the past year. Dr. Chris Noon was appointed chair earlier this year, and has more recently been joined by new trustees Rita Butler-Jones, Fiona Matthews, and Rekha Owen.
Aviva head of master trust development Geoff Marchment says: “Scale matters – especially when harnessed to benefit savers through strong governance, responsible investment, and practical tools that empower confident decision-making.”
Dr. Chris Noon, chair of the Aviva Master Trust adds: “This significant milestone is testament to the strength and scale of the Aviva Master Trust. It reflects the confidence our employers and members place in us and offers even greater opportunities to deliver meaningful value at scale.
“Our focus remains firmly on helping members achieve better outcomes – through innovation, strong governance, and a retirement journey that truly works for them. We’re excited to build on this momentum and continue shaping a future where every saver in the trust feels supported and empowered.”