A smarter approach to retirement investing
At Aviva Investors, we understand that retirement is not the end of the investment journey—it’s the beginning of a new phase. Our Retirement Portfolios are designed to help your clients draw a sustainable income while managing the key risks that come with decumulation.
Why choose Aviva Investors Retirement Portfolios?
We have three portfolios designed for different income needs, achieved through a combination of natural income and growth. With the retirement portfolios, your clients can:
- Take flexible income from their portfolio
Calculate the probability of maintaining a given level of income throughout their retirement
Target a specific value at the end of retirement for legacy planning
What are the key features of Aviva Investors Retirement Portfolios?
Built for retirement
Our portfolios are specifically constructed to address the unique challenges of retirement investing—longevity risk and sequencing risk.
We blend a wide range of global asset classes aiming to deliver income sustainability and capital preservation, using a different asset allocation approach to that of a typical accumulation portfolio.
Natural income generation
We allocate to assets that generate regular income —such as equity income, defensive income, and alternative income— that can be paid directly into the client’s platform cash account.
This helps to reduce reliance on unit encashments, to reduce the impact of market volatility on client outcomes. This is also known as sequencing risk, which we explain in more detail below.
Probability-based outcomes
Using advanced modelling, we provide insights into the likelihood of different retirement outcomes.
This helps you and your clients make informed decisions about income levels and legacy potential.
Understanding the retirement portfolios
These client‑friendly videos are designed to help you explain why investing in retirement looks different today. They walk through how our portfolios are built to manage longevity and sequencing risk, and highlight the tools we provide to support effective retirement planning.
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Three actively managed portfolios to suit different income needs
Equity Income: Has the potential to drive each portfolio’s capital growth, while generating an income. Typical assets include global and regional equities.
Defensive Income: Aims to protect the value of investments and manage risk and includes cash, government bonds and lower-risk corporate bonds.
Alternative Income: Has the potential to diversify growth opportunities outside of traditional asset classes. This includes absolute return funds, REITs and listed infrastructure as well as higher-yielding fixed income.
Typical retirement is an average of 20-22 years.
Source: Office for National Statistics 12/01/2022 "Past & projected period and cohort life tables: 2020 based, UK, 1981 to 2070.
This diagram is for illustrative purposes only and the information provided is provisional and subject to change.
*The Sustainable income withdrawal percentage is an annual withdrawal amount based on the starting portfolio value.
Retirement investment challenges
What is longevity risk?
Put simply, longevity risk is the risk of outliving pension savings. Life expectancy has been increasing in the UK (which is good news) but this is putting greater pressure on pension savings to last for an increasing number of years in retirement.
By investing for the long-term and paying close attention to sequencing risk (which we explain next), this can help to reduce the risk of pension savings running out.
What is sequencing risk?
Again put simply, sequencing risk is the risk of withdrawing your pension savings during market downturns, which can negatively impact a portfolio’s longevity. Weak or strong periods of performance coupled with the timing of when pension withdrawals are made can affect the long-term value of the portfolio.
In the early years of retirement, taking withdrawals during a weak period of performance can result in pension savings being depleted faster than expected. By managing the variability of returns, this can help reduce the risk of withdrawing at the wrong time.
We explain these challenges in more detail in our Retirement Portfolios brochure, accessible below.
Adviser support for retirement and investments
These materials aim to support advisers when having conversations with their clients about retirement and investments. If you have any questions, please get in touch with our distribution team.
Brochures and documents
- PDF 51.9 KB 1 page
How to Invest Guide - Retirement Portfolio
- PDF 1.5 MB 15 pages
Retirement Portfolios Brochure
- PDF 221.3 KB 10 pages
Aviva Investors Model Portfolio Summary Document
- PDF 83.4 KB 3 pages
Aviva Investors Retirement Income Portfolios Suitability Wording Template
- PDF 245.7 KB 24 pages
Aviva Investors Adviser Terms of Business
Insights
Investment thinking that brings together the collective insight of Aviva Investors’ teams from across the globe on the key themes influencing markets.
Views
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The week in markets
27 Mar 2026
A familiar pattern returned this week: headlines moved first, markets reacted fast, and certainty did not last long.
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Wild moves in the oil price
24 Mar 2026
The price of oil recently reached four-year highs. Will this be a short-lived shock or a long-term issue?
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The week in markets
6 Mar 2026
While energy prices and government bond yields rose this week, the impact on equities was different across regions, and credit stress was contained. The situation so far is one of uncertainty rather than a downturn.
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Multi-asset chart of the month for February: The Magnificent Two
23 Feb 2026
The “Magnificent Seven” begin to split as two tech giants break away from the pack.
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AI boom poses dilemma for equity investors: Soaring share price valuations bolster the case for downside protection
16 Feb 2026
The new year has begun with a bang with global equities at, or near, record highs. But as fears of an artificial intelligence (AI) led bubble mount, reducing downside risk without necessarily sacrificing lots of upside potential makes increasing sense.
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Looking beyond correlation: The limitations of a widely used financial metric
2 Feb 2026
Correlation is one of the most widely used statistical measures in modern finance. But investors looking for genuine portfolio diversification may wish to use it alongside other metrics as they look to mitigate risk.
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Multi-asset chart of the month for January
28 Jan 2026
As geopolitics reshapes markets, rare earths are moving into the spotlight – and Greenland is emerging as a strategic focal point.
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2026 multi-asset outlook: Three themes for investors that shaped 2025 and our outlook for 2026
12 Jan 2026
After a year of tech-fuelled rallies, trade shocks, and fiscal brinkmanship, 2026 offers both promise and peril. Here’s what investors need to know and our outlook for 2026.
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Boosting low-carbon investment in the UK: 2025 Roadmap Update
11 Dec 2025
In 2024, we outlined our view on the most important public-policy interventions to unlock private investment in the low-carbon economy. In this update, we take stock of policy developments since, and look ahead to 2026 and beyond.
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Multi-asset chart of the month for November
25 Nov 2025
It's not just the Magnificent Seven who have been benefitting from the AI investment boom.
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Controlling the controllables: Investing with focus amid constant noise
13 Nov 2025
Global equity income portfolio manager Richard Saldanha explains why investors need to tune out the endless stream of headlines to focus on what's within their control.
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Multi-asset chart of the month for October
27 Oct 2025
This month’s chart looks at the strong performance of gold compared to equities so far in 2025. Has it gone too far, or does it still hold value?
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Peak fear, prime opportunity: Why healthcare stocks could be on the mend
13 Oct 2025
In the third of our global equity sector hub discussions, Joanna Tucka, healthcare sector hub lead, and Richard Saldanha, global equity portfolio manager, explore why all is not doom and gloom in healthcare.
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Multi-asset chart of the month for September
17 Sep 2025
This month’s chart looks at the Magnificent Seven group of stocks and explores whether – rather than being a bubble akin to the dotcom era – their high valuations are justified by high earnings.
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Energy-intensive industries: Unlocking low-carbon investment
16 Sep 2025
Vital industries for UK growth like steel or cement are also energy intensive, and their decarbonisation is essential. We convened a roundtable of experts to discuss barriers and solutions to unlocking low-carbon investment opportunities.
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The power of governance: Our key takeaways from the 2025 AGM season
20 Aug 2025
While fewer shareholder resolutions were tabled at company AGMs, we continued to encourage high standards of corporate governance practice, recognising individual company context and the importance of long-term value creation.
Key risks
For further information on the risks and risk profiles of our funds, please refer to the relevant KIID and Prospectus.
Investment and currency risk
The value of an investment and any income from it can go down as well as up and can fluctuate in response to changes in currency and exchange rates. Investors may not get back the original amount invested.
Emerging markets risk
Investments can be made in emerging markets. These markets may be volatile and carry higher risk than developed markets.
Equities risk
Equities can lose value rapidly, can remain at low prices indefinitely, and generally involve higher risks - especially market risk - than bonds or money market instruments. Bankruptcy or other financial restructuring can cause the issuer's equities to lose most or all of their value.
Fixed income risk
Investments in fixed interest securities are impacted by market and credit risk and are sensitive to changes in interest rates and market expectations of future inflation. Bonds that produce a higher level of income usually have a greater risk of default.
Multi-asset expertise
Meet our multi-asset team.
Sunil Krishnan
Head of Multi-Asset
Sotirios Nakos
Head of Multi-asset Portfolio Management
Shane O'Brien
Head of Investment Specialists (Public and Private markets)
Thomas Stokes
Investment Director, Multi-Asset
Contact us
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Explore Aviva Investors Income funds
Aviva Investors Global Equity Income Fund (OEIC)
A concentrated, high-conviction fund that focuses on a diverse range of opportunities outside of the traditional income sectors and aims to deliver growth as well as a yield that is 1.25x higher than the MSCI ACWI.
MAF Income
An actively-managed global multi-asset fund that aims to pay a monthly income while growing your clients’ money over the long-term.
Explore Aviva Investors Multi-Asset funds
MAF Core
Low cost without compromising on quality: five risk-rated funds designed to give your clients a simple way to grow their investments.
MAF Plus
Five multi-asset funds with a more tactical and active approach than our Core solution. Each invests in a wider range of asset classes to give your clients more diversification.
MAF Stewardship
Risk-profiled multi-asset portfolios with a focus on Climate, Earth and People. For clients who put stewardship at the heart of investing.
MAF Income
An actively-managed global multi-asset fund that aims to pay a monthly income while growing your clients’ money over the long-term.
Important information
THIS IS A MARKETING COMMUNICATION
Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited ("Aviva Investors"). Unless stated otherwise any opinions expressed are those of Aviva Investors. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature. The value of an investment and any income from it can go down as well as up. Investors may not get back the original amount invested.
The Aviva Investors Retirement Portfolios comprise of three Model Portfolios (together the "Aviva Investors Retirement Model Portfolios"): Aviva Investors Retirement Portfolio I, Aviva Investors Retirement Portfolio II, and Aviva Investors Retirement Portfolio III.
Issued by Aviva Investors Global Services Limited. Registered in England and Wales No 01151805. Authorised and regulated by the Financial Conduct Authority. Firm Reference No 119178. Registered address: 80 Fenchurch Street, London, EC3M 4AE. An Aviva company.