Aviva funds: default, ready-made or self-select
Aviva runs one of the largest books of workplace and personal pensions in the UK, which means millions of savers hold Aviva funds without ever having chosen them. Whether the default is right for you – and what to switch to if not – depends on which of Aviva's three fund routes fits: the My Future Focus default range, the ready-made risk-rated portfolios, or the wider self-select menu of trackers and external funds. Our separate Aviva pension review rates the provider; this page is about the funds inside it.
The main Aviva pension fund options
| Fund / range | Type | Risk level | Best for |
|---|---|---|---|
| My Future Focus Growth | Multi-asset default (growth phase) | Medium-high | Workplace savers years from retirement |
| My Future Focus Consolidation | Multi-asset default (de-risking phase) | Low-medium | Savers close to their retirement date |
| Aviva ready-made adventurous portfolios | Risk-rated multi-asset | High | Choosing your own steady risk level |
| Aviva ready-made balanced portfolios | Risk-rated multi-asset | Medium | Middle-ground one-fund investors |
| Aviva ready-made cautious portfolios | Risk-rated multi-asset | Low | Stability over growth |
| Global equity trackers (self-select) | Index funds | High | DIY builders wanting cheap market exposure |
| Stewardship / sustainable funds | ESG-screened | Varies | Values-driven savers |
Fund names and menus vary between Aviva's older policies and its current workplace and platform pensions, so treat the table as a map of the categories – and check the latest factsheet for current holdings and charges. We quote no performance figures because past performance does not guarantee future returns.
My Future Focus: the default most savers are in
My Future Focus is a lifestyling default: while retirement is distant your money sits in the growth phase, a diversified multi-asset mix run by Aviva Investors; from roughly ten years before your selected retirement date it progressively shifts towards the consolidation mix, dialling equity risk down. That automation is genuinely useful – but it hinges entirely on your recorded retirement date. If Aviva thinks you retire at 65 and you actually plan to go at 60 (or 70), the de-risking will be mistimed. Checking and correcting that date is the single highest-value five-minute job an Aviva saver can do.
Ready-made portfolios and the self-select menu
If you would rather pick a risk level and stay there, Aviva's risk-rated ready-made portfolios run from cautious to adventurous and skip the automatic glidepath. Beyond those, current Aviva pensions carry a self-select menu that typically includes cheap global index trackers, bond funds and sustainable options such as the long-established Stewardship range. The self-select route gets you lower fund charges and more control, at the cost of managing the mix yourself.
Who each route suits
- Auto-enrolled and happy to stay hands-off: the My Future Focus default – just fix your retirement date.
- Know your risk appetite, want it constant: a ready-made portfolio at your chosen level.
- Cost-focused DIY: a global tracker plus a bond fund from the self-select list.
- Values-led: the sustainable and Stewardship options.
Charges and the older-policy trap
Aviva's modern workplace schemes are competitively priced, but Aviva also inherited thousands of legacy policies (Norwich Union, Friends Life and others) where annual charges can be materially higher and fund menus dated. If you hold an older Aviva plan, compare its total charge against a modern alternative – our guide to transferring an Aviva pension covers the process and the guarantee checks to make first, and our Aviva vs PensionBee comparison shows how it stacks up against a popular consolidator.
Checking and switching your Aviva funds
Finding out what you actually hold takes minutes: the MyAviva app or online account shows your current funds, their factsheets and your recorded retirement date, and your annual statement lists the total charge you are paying. Fund switches within an Aviva pension are typically free and take effect within days, with no tax consequences – switching funds inside a pension is not a taxable event. Two sensible habits: never switch during a market panic (you crystallise the fall), and change one variable at a time so you can see what each decision did.
Verdict
Aviva's fund range does the job for every type of saver: My Future Focus is a well-built default, the ready-made portfolios suit deliberate risk-pickers, and the self-select trackers keep costs honest. The bigger determinants of your outcome are your contribution rate, your recorded retirement date and whether you are stuck in an expensive legacy policy. An FCA-regulated adviser can model your exact numbers and check whether staying put or restructuring serves you better.