Aviva DB closure saves £275m

clock

Aviva's decision to close its final salary scheme will benefit the company's net asset value by about £275m, figures show.

The life and pensions company's interim management statement said the decision to move some 7,600 staff to a defined contribution scheme from 1 April next year will reduce the pension scheme defici...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Slew of potential superfund providers in talks with TPR as DB enters 'defining period'

Slew of potential superfund providers in talks with TPR as DB enters 'defining period'

Watchdog expects three applications and is in early talks with ‘half a dozen’ other providers

Jonathan Stapleton
clock 27 March 2026 • 2 min read
Partner Insight: Behind the numbers - What defined benefit members really think

Partner Insight: Behind the numbers - What defined benefit members really think

Claire Altman, Managing Director – Pension Risk Transfer & Individual Retirement at Standard Life
clock 27 March 2026 • 5 min read
PIC completes £200m acquisition of build-to-rent development in Reading

PIC completes £200m acquisition of build-to-rent development in Reading

Insurer expands build-to-rent portfolio with acquisition of Ebb & Flow development

Martin Richmond
clock 26 March 2026 • 1 min read
Trustpilot