Aviva Pension Funds

Multi-manager platform with ESG lifecycle as default

Aviva is one of Ireland's largest insurers, offering a broad multi-manager fund platform with over 100 funds. Their My Future ESG lifecycle strategy is the default for occupational schemes - one of the first ESG-integrated defaults in the Irish market.

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Funds tracked

Risk Rating Scale

Aviva rates funds on a 1–7 scale based primarily on the ESMA risk rating methodology. Ratings are calculated internally using weekly unit prices over a rolling five-year period and are reviewed annually. In certain cases, Aviva may assign a higher risk rating than the ESMA scale suggests when additional factors - such as liquidity constraints, potential for loss, or longer-term volatility - warrant a more conservative approach.

The volatility scale assumes investments are held for five years. Shorter holding periods typically carry greater risk. Where a fund does not have a five-year track record, Aviva may derive ratings from the underlying fund manager's methodology, the risk target of the fund, or by blending the fund's track record with a relevant benchmark.

Lowest / Very Low Risk

Low

Low to Medium

Medium

Medium to High

High

Highest / Very High Risk

1 - Lowest / Very Low Risk

Funds typically investing in lower-risk sectors such as the money market. Usually aim for similar returns to deposit and savings accounts. Lowest potential for long-term returns but smallest day-to-day changes in value.

About Aviva

Key Considerations

Three levels of involvement: From fully managed to self-directed (SDIO) - all within one policy, mixable
Self-directed option (SDIO): Access individual shares, ETFs, structured products, and private markets within your pension via Cantor Fitzgerald
Allocation rates up to 103%: Bonus units added above 100% of your contribution
Free fund switching: No charges to move between funds
My Future ESG lifestyle strategy: Default strategy with three retirement target variants - ARF (Approved Retirement Fund - stays invested with withdrawal flexibility), annuity (guaranteed income for life), or cash
Wide product range: Personal Pension, PRSA (Personal Retirement Savings Account), ARF, PRB (Personal Retirement Bond - for transfers from employer schemes), Investment Bond, Savings Plan, and Master Trust options
Irish Commercial Property Fund: Direct property exposure managed by an in-house team (note: six-month notice period for withdrawals/switches)

Investment Approach

Managed for You (ready-made solutions)

Six distinct fund families for investors who prefer simplicity. The SFDR column shows each fund's EU sustainability classification: Article 8 funds actively promote environmental or social characteristics.

Family	Style	Funds	SFDR
Multi-Asset ESG Active	Active (Aviva Investors)	3 funds (risk levels 3-5)	Article 8
Multi-Asset ESG Passive Plus	Passive bias	3 funds (risk levels 3-5)	Article 8
ESG Fixed Allocation	Passive (index funds)	4 funds (20/40/60/80% equity)	Article 8
L&G Multi-Index	Active with passive blocks	3 funds	Article 8
Cantor Fitzgerald Multi-Asset	Active	3 funds (30/50/70)	Article 8

Managed with You (Aviva Select Funds)

Curated shortlist for investors building custom portfolios with their broker:

Property: Irish Commercial Property Fund (in-house Aviva Ireland property team)
Alternatives: AIMS Target Return Fund, Concept K, Physical Gold
Cash/Fixed Income: Cash Fund, Bond Fund, Long Bond Fund, Corporate Bond Fund
Equity: High Yield Equity, Global Leaders, Emerging Markets, Smaller Companies, Stewardship (ethical), Global Equity ESG Passive, European Equity ESG Passive, Emerging Market Index

Managed by You (SDIO)

Self-Directed Investment Option via Cantor Fitzgerald:

Individual shares, equity/bond ETFs, commodity ETFs
Structured products, investment funds, currencies
Investment trusts, REITs, property funds, private markets
Available on: Personal Pension, PRB, Retail Master Trust, ARF
NOT available on: PRSA, Investment Bond, Savings Plan, Corporate Master Trust

Fund Managers

Aviva Investors (in-house): Multi-Asset ESG ranges, AIMS Target Return
Columbia Threadneedle: Stewardship Ethical Equity (Responsible Global Equity SICAV)
Legal & General: L&G Multi-Index range
Cantor Fitzgerald: Multi-Asset range + SDIO trading platform
DWS: Concept K fund
Aviva Ireland property team: Irish Commercial Property Fund

ESG / Responsible Investment

ESG (Environmental, Social, and Governance) is a framework for evaluating companies on climate impact, working conditions, and corporate ethics.

Aviva Investors incorporating ESG since 1970
UN PRI signatory
Dedicated sustainable investing analyst team
Net Zero 2040 ambition across all operations and investments
All flagship Multi-Asset ESG funds classified Article 8

Binding exclusions (applied to Article 8 funds):

Controversial weapons (manufacture/production)
Thermal coal (revenue-based threshold)
Unconventional fossil fuels: tar sands, arctic oil
Tobacco manufacturing
Companies contravening UN Global Compact Principles

Charges

Fund Charge = Fund Management Charge (FMC) + Plan Management Charge (PMC)
FMC: deducted daily from unit price
PMC: taken monthly by deduction of units
Allocation Rate: Up to 103% (provider adds bonus units); net rate depends on broker commission
Policy Fee: May or may not apply depending on product option
Early Exit/Transfer Charge: May apply in early years (products designed for 5+ year terms)
Fund Switching: Free across all products
Underlying charges: Fund-of-funds structures may carry additional embedded costs
Aviva may increase charges subject to legislative limits, with 30 days notice

Retirement Options

ARF key features:

Keeps pension invested after retirement with withdrawal freedom
Imputed distributions: mandatory minimum annual withdrawals (age 60+)
No charge for regular withdrawals
On death: value passes to estate (spouse transfer tax-free to their ARF)
Can purchase annuity from ARF at any future point
30-day cooling-off period

Retirement paths: Tax-free lump sum (up to 25%) + annuity / ARF / Vested PRSA / combination

Page content last reviewed 13 July 2026. Fund performance data is updated daily.

Frequently asked questions about Aviva pensions

Aviva offers three tiers: "Managed for You" (five multi-asset fund families, all Article 8), "Managed with You" (Aviva Select range covering property, alternatives, equities, and bonds), and "Managed by You" (self-directed investment via Cantor Fitzgerald, including individual shares, ETFs, structured products, and private markets).

My Future ESG is Aviva's default strategy for PRSA and Master Trust. It has three phases: Growth (15+ years to retirement, 100% ESG Fixed 80), Consolidation (15 to 5 years, gradual shift to Fixed 20), and Pre-retirement (final 5 years, aligned to target). Three variants target ARF, Annuity, or Cash. All component funds are Article 8.

Yes. Aviva offers a Self-Directed Investment Option (SDIO) via Cantor Fitzgerald within the pension wrapper. This allows investment in individual shares, ETFs, structured products, and private markets alongside standard pension funds.

Aviva Investors has incorporated ESG considerations into investment decisions since 1970 - the longest ESG heritage among Irish pension providers. They are a UN PRI signatory with a Net Zero 2040 ambition, the most aggressive timeline among Irish providers. Binding exclusions cover controversial weapons, thermal coal, tar sands, arctic oil, tobacco, and UN Global Compact violators.

Aviva's fund charge comprises a Fund Management Charge plus a Plan Management Charge. Allocation rates can reach up to 103% (meaning Aviva adds a bonus on top of contributions). Fund switching is free. A possible early exit charge and policy fee may apply.

The "Managed for You" tier includes five fund families: Multi-Asset ESG Active, ESG Passive Plus, ESG Fixed Allocation, L&G Multi-Index, and Cantor Fitzgerald Multi-Asset. All are classified as Article 8 under SFDR.

Aviva provides an Online Service Centre, a pensions calculator, a risk profiler tool, and free online fund switching. Aviva also trades under the legacy "Friends First" brand for some older policies.

Yes. Aviva offers the Irish Commercial Property Fund through the "Managed with You" (Aviva Select) tier. This is a direct property fund managed in-house by Aviva, investing directly in Irish commercial properties rather than property company shares.