United Kingdom

DC PENSIONS: WHAT KIND OF GOVERNANCE WOULD YOU PREFER?

As the regulatory picture becomes increasingly complex, a growing number of organisations are looking again at the governance and delivery of their DC pension scheme. We're ready to shoulder as much – or as little – of the burden as you'd like.

We've thought carefully about our master trust, group personal pension, trust-based and investment-only options – so your decision about how you run your scheme is purely based upon the level of responsibility (and risk) you're happy to take on.

The best of Aon… whichever option you choose

All our pension solutions include delegated investment funds, which have the agility to react quickly to new legislation or changes in the economy, without leaving your members stuck in expensive or underperforming legacy investments.

And naturally, you'll feel the benefit of Aon's global investment management capabilities – and the strength and breadth of our independent manager research teams, who'll bring you a whole menu of flexible investment options reflecting our latest DC investment ideas, like:

  • Aon-designed target date funds
  • Intelligent lifestyle strategies
  • White-labelled self-select funds

Fully-outsourced governance: two choices

Given the changing regulatory picture, it's increasingly common for customers to ask us to handle the entirety of their pension governance. We have two ways to do this:

Aon's Group Personal Pension: Bigblue Touch. We created Bigblue Touch to give our clients a GPP scheme that's designed for the accelerating pace of change in today's pension market. You'll find more information, here.

The Aon MasterTrust. If you'd like to maintain a direct relationship with your Members, but the new governance requirements and responsibilities are proving too great a burden, The Aon MasterTrust is an ideal solution.

Managed by a completely independent trustee board, our master trust scheme groups your pension with other employers and makes it easier to satisfy your legal duties, while securing good outcomes for your members. There's more information here.

Whether you choose Bigblue Touch or the Aon Mastertrust, your members will gain access to our easy-to-use technology platform. This makes it simple for members to understand the value of their pension, predict likely outcomes and make additional savings, including using an ISA. They can use our solution to continue making smart decisions at – and after – retirement, too.

Both schemes also include:

  • Investments that aim to give great outcomes, tailored to your people's needs
  • Engaging, proactive communications, so your members are fully informed throughout their journey
  • Comprehensive support at retirement, regardless of a member's plans for their pension pot, including the option of a straight-through drawdown solution, using institutional funds and pricing
  • Financial aggregation tools, so members can see their pension savings in context, alongside bank accounts, loans, property and credit cards.

Trust-based DC investment schemes

Some organisations are most comfortable keeping pensions governance in-house, but would still benefit from leading-edge, trust-based investment – as well as administration services, and member communications that really engage.

If that sounds familiar, our bundled DC investment solutions could be for you.

Click here, to find out how it works.

Investment-only DC pension solutions

Some clients are happy operating their own plan governance but recognise that even a nimble Trustee team can't react to industry or market changes as quickly as their members might expect.

For such clients, our market leading Delegated DC Investment offering allows you to ensure your members are invested in Aon's global research team's view of best in class funds at charging levels that reflect our global scale in the market. Our teams work day in day out to ensure that new ideas and managers are assessed, existing managers monitored and funds changed where circumstances justify this.

If you'd like to know more, click here.

Let's talk about a pension scheme that gives your members the best possible outcome – with a governance structure that fits like a glove. Email us on letstalkbenefits@aon.co.uk, or call 0344 573 0033.

Aon Consulting Limited is authorised and regulated by the Financial Conduct Authority.

Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.

Let's talk benefits

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