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Section 02
News from the Trust
Meet your Trustees and catch up with the latest news from the Savings Trust.
02
Meet your Trustees and catch up with the latest news from the Savings Trust.
The Savings Trust is managed by a corporate Trustee company called Rolls-Royce Retirement Savings Trust Limited.
The Board of Trustee Directors (the Trustees) is formed of eight Trustee Directors. Five are Company-appointed and three are member-nominated. The Company-appointed Trustee Directors include the Chair and a Trustee Director nominated by the Central Negotiating Committee (CNC).
Together, they run the Savings Trust in the interests of all its members and are responsible for:
Trustee Directors attend four quarterly meetings and an annual strategy event. In addition, they will assist in the exercising of Trustee discretion where needed and participate in working parties that assist with the governance of the Savings Trust.
Each Trustee Director is typically in place for a four-year term, serving a maximum of two terms.
The Board is assisted by these professional advisers.
Our recently launched Savings Trust member website provides you with 24/7 access to information about your membership of the scheme.
Visit the site to find useful documents like the Savings Trust’s scheme booklet and our new joiner guide, plus details of the scheme’s contribution structure and retirement advice offering.
As well as this, there are direct links to the MyAviva member portal and contact details if you need to get in touch with a question. You’ll also find direct access to Aviva’s retirement planners, too.
Can help give you an idea whether your potential retirement income will fund the lifestyle you want.
Discover how much you might spend during your retirement compared to your current spending and what sort of income you’d need to cover your costs.
Watch this short video on Retirement Living standards.
As you may have heard, Aviva has retired the old MyWorkplace website and app while focusing its efforts on regularly updating the MyAviva website and app. This makes day-to-day engagement with your retirement savings simple and allows you to get instant answers to questions without having to call or send an email.
Just over 75% of Savings Trust members have registered, allowing them to quickly and easily keep an eye on their retirement savings as well as access lots of useful tools. If you’ve not registered, check out our guide (opens in a new tab) that’ll show you what to do.
Of course, you can always speak to a member of the Aviva team too. There are lots of ways you can contact them – find out more in the Help & Support section of this newsletter.
What’s available on MyAviva?
Keeping track of the value of your retirement savings is a breeze with MyAviva, but there’s much more to it than that. MyAviva is divided into five sections to make it easier to find what you need.
Check the contributions going into your Savings Trust account and get an overview of how your investments are performing. Start using the Retirement Forecaster and find educational content about planning for retirement.
This is where you can manage your account:
Find out where your money is currently invested, view interactive past performance charts and find out what assets your savings are invested in. From this page, you can make changes to your investments at any time.
From this page, you can now start the transfer of other eligible retirement savings into the Savings Trust online.
Get support from the Aviva chatbot and other third-party websites. If that doesn’t help, you’ll find contact details for the Aviva team here, too.
Remember, the Savings Trust is administered by Aviva, so as a rule, if you want to ask a question about anything you see on MyAviva or your annual benefit statement, or if you want to get a retirement quote, please get in touch with the Aviva team.
If you’ve got any questions about your membership of the Savings Trust, your first port of call should be our experienced administration team at Aviva.
Every year, Aviva will provide you with an annual benefit statement showing everything that’s happened on your account over the 12 months to 31 March. They’ll send you an email (usually in May) to alert you when it’s ready to download from your online account.
The Aviva team can also provide retirement quotes, either for you or your financial adviser.
Active members of the Savings Trust with questions that relate to the contributions they’re making can find out about additional support in the Focus on… Managing your membership section of this newsletter. For all other questions, you can find Aviva’s contact details in the Help & Support section of this newsletter.
Value for money is more than just being the cheapest option, but any reduction in costs is always welcome.
As part of the Target Date Funds launch in June 2023, the Trustee negotiated a reduction in the Annual Management Charge (AMC) from BlackRock when the total assets under management (AUM) in our Target Date Funds reaches £2 billion.
At the end of 31 March 2026, the AUM in our Target Date Funds stood at £1.7 billion, which is up from £1.3 billion at the same time a year ago. So, if performance and payments in continue at a similar pace, this could happen over the next 12 months. We’ll update you when the target is met.
We’re often asked why the Savings Trust doesn’t provide retirement options ‘in-scheme’. Because of the wide range of options available at retirement from schemes like ours, it’s considered best practice to take advice at retirement and build a bespoke retirement solution.
However, the Pension Schemes Act 2026 contains provisions that require Trustees of defined contribution occupational pension schemes like the Savings Trust to provide a Guided Retirement option. This will require us to provide a default retirement solution for members in much the same way as we provide you with a default investment solution.
These provisions are not yet law but are expected to be finalised during 2030. As reported in last year’s newsletter, the Trustee has been working with its advisers to design a suitable default solution for members, and that work is ongoing. The design of a Guided Retirement option is complex work, as everyone’s wants and needs in retirement will vary widely, but we’ll have more news to report on this subject once the regulations covering Guided Retirements are finalised by the Government.
