Your retirement savings are invested with the aim of providing you with the best possible income when you retire. Get the highlights here, with full details in MyAviva and the Savings Trust Guide.
Our TDFs are designed to allow you to leave all investment decisions in the hands of investment experts. Most people don’t want to service their car, or build their own house, which is why pension schemes like the Savings Trust are required to offer a default investment solution.
When you join the Savings Trust, you’ll immediately be enrolled in our Target Date Funds investment solution, which will manage investment risk for you as you approach your retirement. We’ve designed our default investment solution for the majority of members, who’ll use drawdown to access their benefits in retirement. Drawdown is where your money stays invested, and you take an income from your account as and when you need it.
All we ask of you is to log in to MyAviva every now and then to make sure your retirement date reflects when you think you’re likely to retire.
There’s a different TDF for every possible retirement year. We call these Vintages, and there’s one that matches the year in which you expect to retire. For example, if you’ve set your retirement date as 30 June 2040, your money will be invested in the BlackRock Target Date Fund 2040.
TDFs are made up of a maximum of two investment funds – although each of these has a lot of different investments held within them. These two funds are:
When you’re more than 15 years from your retirement date, all of your retirement savings will be in this fund (opens in a new tab).
When you reach your retirement date, all of your retirement savings will be in this fund (opens in a new tab).
But in the 15 years before your retirement date, you’ll have savings in both – and they’ll be gradually moving from the growth-focused fund to the retirement-focused fund. This chart shows what happens:
Once you’ve reached ‘year zero’, your TDF Vintage is 100% invested in the retirement-focused fund.
If you prefer to make your own investment choices, you can. You can see the full range in the updated Savings Trust Guide (opens in a new tab).
We’re often asked by a small number of members why we don’t offer a wider selection of investment funds in the same way as a Self-Invested Personal Pension (SIPP). The simple answer is that company pension schemes need to work for all members, not just those who are experienced investors.
Sadly, we already see the financial impact on members who make rash choices in times of market turbulence and end up losing £1,000s.
All deferred members have the option of transferring their pension to a SIPP if they would like to access a wider choice of investment funds.
Active members may also transfer up to 95% of their fund value while remaining as an active member of the Savings Trust, although neither Rolls-Royce nor the Savings Trust’s Trustee Board recommend this course of action. We strongly advise you to take appropriate financial advice before making such a big decision. Any such transaction is entirely at your own risk, and once you’ve transferred out, neither Rolls-Royce nor the Trustee will be able to offer any assistance.
Active members can search ‘Savings Trust partial transfer’ on Employee Hub for more details.
The desktop version of MyAviva provides live investment performance figures and allows you to get detailed information on the assets that our funds invest in, as well as analysis of the past performance of all of our investment options.
To find out where your money is currently invested, on the desktop version of the site go to ‘Your products’:
Click the ‘Details’ button to enter your account.
Click on ‘Funds and investments’ in the menu.
Click on ‘Fund facts and performance’ for all of the detail, including interactive past performance charts, the risk rating of the fund, its asset allocation and more.
To research all of our investment options on the desktop version of the site:
On the ‘Your products’ page, click the ‘Details’ button to enter your account.
Click on ‘About this pension’.
In the ‘More from your pension’ section, click ‘See more details’.
Click ‘Fund research’.
Click ‘Show me all select funds’.
You’ll now see all of our investment fund options, including the Target Date Fund Vintages. Click on ‘Show performance details’ for more information on each fund. You can also select any of them to compare in chart form.
