United Kingdom

White Papers

We've been in the benefits industry for many years, so as you can imagine, we know a thing or two about employee benefits. And we want to share that knowledge with you. So we've launched a new series of whitepapers to help you focus on some of the key issues in the employee benefits industry today.

Aon Client Briefing - Spring Budget

Aon Client Briefing - Spring Budget

March 2017

It is clear that the Chancellor wishes to “keep his powder dry” for what promises to be an eventful 2017. Whilst a relatively uneventful Budget, this should not mask the changes currently underway from previous Budgets. Many of these are significant for Employee Benefits and in need of urgent review given we are a few weeks away from implementation on 6 April 2017.

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Death in Service Pension Survey

Death in Service Pension Survey

December 2016

This paper looks at the options open to Trustees and Employers who may be their Death in Service Pensions. A combination of economic , social and legislative forces have conspired to force many policyholders to consider alternative options for what is increasingly becoming regarded as an unsustainable, out of date benefit to be consigned to history along with defined benefit pension arrangements to which the DISP promise was often so closely attached. We look in more detail at options, including re-financing, re-designing or replacing the benefit. This paper looks to help Trustee and Employers still to confront these challenges.

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Aon 2017 Global Medical Trend Rate Report

Aon 2017 Global Medical Trend Rate Report

December 2016

Aon Hewitt is pleased to present the results of its 2017 survey of average medical trend rates from countries around the world.

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Salary Sacrifice

Salary Sacrifice

October 2016

On the 10th August 2016, HMRC launched the long awaited consultation on salary sacrifice. This follows the March 2016 budget announcement that the Government remain concerned about the growth of salary sacrifice schemes.The Government has set the Autumn Statement for 23rd November 2016, when we expect to hear more on the exact outcomes. In the meantime, read Aon’s briefing here:

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Aon Brexit Briefing

Aon Brexit Briefing

June 2016

A number of our clients have asked us for our view on the potential impact of Brexit. As a firm we do not form or publish political opinions and so do not wish to inform or influence the opinions of our clients in this matter. However we accept that the question of the potential impact of Brexit on employee benefits is a valid one and as employee benefits consultants, we can consider the potential consequences of the Referendum.

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The Real Deal 2015 Retirement Income Adequacy at Large Companies

The Real Deal- 2015 Retirement Income Adequacy at Large Companies

October 2015

Aon Hewitt’s sixth installment of The Real Deal study analyzes the financial retirement readiness of 2.1 million employees of 77 large U.S. employers. The study projects employees’ retirement needs and resources, assuming their current behaviors continue. The report analyzes retirement risks, measures employer and employee actions to help improve retirement outcomes, and provides our answers to the critical questions employees and employers need to consider while preparing for a financially successful retirement.

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Pension Taxation Reform Report

Pension Taxation Reform Report

October 2015

This is a summary of the Aon response to the HMRC consultation “Strengthening the incentive to save: a consultation on pensions tax relief”.

We have taken as our starting point — based on repeated comments from Treasury — that the objective of this consultation is to review the effectiveness of the current structure of incentives available to encourage pensions saving. However the Treasury consultation also stresses that the cost of current reliefs on pension saving is significant. There are relatively few comparable opportunities available to the government to improve public finances to the extent of pension taxation, and we accept that it would be reasonable for Treasury to question the overall quantum of relief offered. The proposals we have set out below address both the incentive and overall quantum of support for pensions.

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Employee reward and benefits for multi generation workforces

Employee reward and benefits for multi-generation workforces

September 2015

Popular segmentation thinking argues that we now have 5 generations in the workforce and that they have differing needs and preferences. These differing needs and preferences when taken in the context of employment reward and benefits are caricatured by the “twenty-something” being disinterested in pension and keen on retail discounts and the “fifty-something” worried about pension and health. And of course flexible benefits is the answer… because this way employers can offer choice and employees can tailor their package to suit their preferences and lifestyle.

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Improving Employee Resilience

Improving Employee Resilience

August 2015

Improving employee resilience requires a strategic and sustained campaign rooted in the collective wellbeing needs of the workforce, says Charles Alberts, Senior Consultant at Aon Employee Benefits.

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The July Budget more change more complexity for pensions

The July Budget - more change, more complexity for pensions

July 2015

The 8th July Budget covered a wide range of issues. Here is a summary of the pension and benefit related ones.

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The July Budget employee benefit changes and implications for flexible benefits

The July Budget - employee benefit changes and implications for flexible benefits

July 2015

The most significant budget implications in the employee benefits space were pension related, including the new consultation on the future pensions taxation landscape. However, this briefing focusses on other employee benefit changes from last week's Budget and their implications for employers. We also cover recent developments for tax free childcare.

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Changes to pension tax relief

Changes to pension tax relief

July 2015

In the 2015 Summer Budget, the government announced yet another reduction to the tax relief available on pension savings, this time targeting individuals earning more than £150,000 per year. Proposed changes to the Lifetime Allowance, announced in the March Budget, were also confirmed.

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Lifetime Allowance Budget 2015

Lifetime Allowance Budget 2015

March 2015

As part of the 2015 Budget, the government announced yet another reduction in the tax relief available on pension savings.

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In depth guide to retirement and pension changes produced by Aon Employee Benefits and Reward Guide

In-depth guide to retirement and pension changes produced by Aon Employee Benefits and Reward Guide

March 2015

Pensions auto-enrolment might have seemed like change enough for the employee benefits world. However, the transformations to retirement savings announced in the 2014 Budget has given both the pensions industry and employers an entire new set of requirements to comply with by the ambitious deadline of April 2015. In this guide to retirement choices and the new pensions rules, Reward, in association with Aon Employee Benefits, highlights key changes that HR directors need to be aware of, and what that means in terms of working practices.

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April 2015 Freedom Choice Guidance Guarantee Latest Developments

April 2015 Freedom & Choice: Guidance Guarantee - Latest Developments

February 2015

Following the new retirement options offered under the April 2015 Freedom and Choice announcement, George Osborne declared his intention that everyone should have access to free guidance to help them make sense of their options at retirement. HM Treasury has announced that this new guidance service will be branded as, 'Pension wise: Your money. Your choice'. The consumer-facing, impartial organisations; The Pensions Advisory Service and Citizens Advice had previously been named as delivery partners. The latest Treasury update summarises developments so far, and provides some further details of how the service will operate.

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