Shareholder update - December 2023

The Aviva Foundation has announced three new grantees, funding organisations that help the financial resilience of those in need.

1.    Autistica: helping autistic people and families in the UK build financial resilience and wellbeing.

With the Foundation’s support, Autistica will be creating two moderated digital platforms: an ‘Everyday Tips Hub’ to support autistic people and their families and a ‘Professionals Hub’ to support organisations and professionals working with autistic people. The Hubs will host evidence-based and community-sourced resources and tools on key priority topics, including financial resilience, to empower autistic people and their families to develop financial skills and wellbeing; and support financial experts to better understand how to cater inclusively for autistic customers.

“Fewer than 3 in 10 autistic people in the UK are in full-time employment, yet over half experience difficulties accessing benefits. Because of this, they are more likely to experience poverty and less likely to have the means to develop financial resilience. We are incredibly proud to be working with the Aviva Foundation to develop an evidence-based response that will empower autistic people to develop financial skills and wellbeing, as well as help financial experts build more accessible and inclusive solutions.” Giorgia Molinari, Head of Corporate and Commercial Partnerships, Autistica

2.    Living Wage Foundation: growing the living wage in the North-East

The Aviva Foundation's funding will support the Living Wage Foundation to build a regional programme in the North-East. This project aims to increase the number of accredited Living Wage Employers in the North-East by 500 over three years.

“We’re delighted to have received this funding from the Aviva Foundation which will enable us to accelerate the growth of Living Wage employers in the North-East, an area with one of the highest levels of child poverty in the UK. Paying the Living Wage lifts workers and their families out of poverty and puts money into the local economy benefiting whole communities.” Jessica Brayne, Head of Membership, Living Wage Foundation

3.    Moneyline: improving financial resilience through trialling variable reoccurring payments.

Moneyline is a not-for-profit organisation, offering financial services to some of the lowest income households in the UK. Since 2002, they have issued over £100m in loans to 55,000 customers and have opened 28,000 savings accounts with over £13.5m in savings deposited.

With funding from Aviva Foundation, Moneyline will be trialling a new payment method for a segment of their customers who are often financially excluded, for whom Direct Debits often don’t work. Giving organisations more insight to flexible ways to pay should open the door to offering their products to a wider group of people and in turn reduce financial exclusion.

‘Moneyline are very excited to work with Aviva Foundation and be given the opportunity to trial an innovative new way to pay, that could lead to a reduction in financial exclusion. Many of our customers have limited access to products and services as Direct Debit payments don’t work for them. We hope our trial will show that we can be more inclusive by offering a payment system that works for complex financial circumstances’. Shiona Crichton, Chief Executive Officer, Moneyline

On 20 June 2023, Aviva, Manchester City Council and Factory International announced a long-term partnership which includes landmark support for Manchester’s iconic new arts and culture venue to be named Aviva Studios. The venue is predicted to add £1.1 billion to the economy of Manchester and the surrounding region over a decade. It will support up to 1,500 direct and indirect jobs and provide training and engagement opportunities for people of all ages and backgrounds. This investment will make a substantial contribution in making arts and culture more accessible and inclusive. The development of the venue is the largest investment in a national cultural project since the opening of Tate Modern in 2000, thanks to £106m of public funding from HM Government and Arts Council England, with additional backing from Manchester City Council.