United Kingdom

Public Sector Pensions

We specialise in providing advice in relation to the Local Government Pension Scheme (LGPS), police and fire schemes and the public services schemes of offshore Governments. We also advise employers in relation to public service pension schemes including the Police and Fire schemes, LGPS, the NHS Pension Scheme, the Teachers' Pension Scheme and the Principal Civil Service Pension Scheme (PCSPS).

For more information on the services we provide please contact one of those named below.

Actuarial Services for LGPS Administering Authorities

The actuarial services we provide to LGPS administering authorities include:

  • triennial and interim actuarial valuations and approximate funding updates
  • advice on funding assumptions and access to our proprietary longevity model
  • cashflow projections and scenario testing
  • data validation and cleansing support
  • calculations for accounting purposes including under IAS26/IAS19/FRS102 and directors' disclosures
  • advice on funding strategy, and funding risk
  • advice and calculations in relation to employers leaving and joining funds
  • evaluation of risk exposure to support the setting of indemnities or bonds
  • advice on actuarial factors and access to our early retirement strain calculator
  • bespoke LGPS supporting models and tools, e.g. our unitisation tool, contribution modeller, cashflow projection model, online funding update service Risk Analyzer and more
  • wider services related to employer and liability risk management
  • advice on bulk transfers

Our public sector actuarial team works closely with specialists in other areas and we have developed LGPS specific employer covenant assessment services, and longevity analysis.

Alison Murray

Alison Murray

Alison is a Partner and Head of Public Sector Actuarial. She has over 20 years’ pensions' experience, the majority of which has been advising administering authorities and LGPS employers on pensions issues

Contact Alison at alison.murray@aon.com or phone – 0117 900 4219 or

Becky Durran

Jonathan Teasdale

Scott Campbell

Chris Darby

Benefits and Governance Services for LGPS Administering Authorities

Our benefit consultants assist clients with any aspect of delivering their pension scheme which does not fall under the guise of actuarial or investment matters. Our specialist public sector benefits and governance team have helped with:

  • Training programmes for LGPS funds – both Committee and Pension Board members
  • Governance effectiveness reviews
  • Administration audits (such as checking the accuracy of LGPS 2014 calculations or efficiency of administration processes)
  • Compliance reviews against the Pension Regulator's Code of Practice
  • Risk management strategies and registers
  • Identifying data issues and developing data improvement plans
  • Employer communications and training, including employer responsibilities and guides
  • A range of policies and strategies, including Conflict of interest policies, Administration strategies, and Discretionary policies (administering authority and employer)
  • Performance measurement and reporting, including scorecards
  • Scheme member workshops including an overview of scheme benefits and pensions taxation
  • Efficiency tools such as training logs that automatically produce training certificates and risk dashboards
  • Providing figures for scheme members regarding their lifetime and annual allowances
  • Annual benefit statements (from data collection to design of statements to collation and delivery)
  • Calculation processing, including backlogs
  • Project management

Our governance advice follows our best practice governance framework

Effective governance helps to ensure:

  • Robust risk management that can assist in avoiding issues arising or at least reducing their impact
  • Ensuring resources and time are appropriately focused
  • Timely decision making and implementation of change
  • A clear view of how the Fund is being operated
  • A key element of our service revolves around the best practice framework shown below.
Direction, Decisions, Delivery
Karen McWilliam

Karen McWilliam

 

Contact Karen at Karen.mcwilliam@aon.com or phone - 07711016707 or

Daniel Kanaris

Michael Ferguson (governance)

Catherine Pearce (benefits)

Craig Payne (benefits)

Scheme Employer Services

Our Scheme Employer Service enables employers which participate in the LGPS to easily access independent expert advice from LGPS specialists. These specialists are experienced in advising administering authorities in relation to the LGPS, but are not involved in advising the administering authority in question.

Areas of advice may include support with outsourcing of contracts, exit or entry to the Fund, assessment of indemnity bond requirements or assessing the funding impact of major membership changes. The team also calculate and supply annual accounting figures for employers in respect of their pension obligations.

Chris Archer

Chris Archer

 

Contact Chris at chris.archer@aon.com or phone - 0117 900 4402 or

Joel Duckham at joel.duckham@aon.com

Contractors who require support in connection with their local government bids and managing their LGPS Fund admissions can contact our specialist Public Sector Outsourcing colleagues:

Madalena Cain: madalena.cain@aon.com

Andrew Murton: andrew.murton@aon.com

Investment Services for LGPS Administering Authorities

Our Public Sector Investment Consultancy Team is part of one of the largest investment consulting teams in the UK and works closely with our other Public Sector specialists. The team provides a wide range of services to LGPS pension funds, their administering authorities, the asset pools in England and Wales and other public sector bodies.

Our expertise includes providing: asset/liability modelling advice and support, setting strategic benchmarks, fund manager research, monitoring, search and selection, economic modelling and advice on investment governance issues. We can also provide Medium Term Asset Allocation advice, and are able to discuss and introduce Aon’s award winning delegated investment services, should this be of interest.

Louis-Paul Hill is a Principal investment consultant at Aon where he advises a range of LGPS and corporate pension scheme clients. Prior to joining Aon in March 2010, Louis worked for nine years at WM/State Street Investment Analytics reporting on market trends, investment performance and risk to LGPS clients.

Louis Pall Hill

Louis-Paul Hill

 

Contact at louis-paul.hill@aon.com or phone 07929 724 430

Emily McGuire at emily.mcguire@aon.com

Colin Cartwright at colin.cartwright@aon.com

Daniel Carpenter at daniel.carpenter@aon.com

Monthly LGPS Newsletter

We produce a monthly newsletter which provides updates on industry developments, topics that our clients are focusing on and upcoming conferences and meetings to look out for. To read the most recent issue please click here.

View Previous Months

 

LGPS Spotlights and Consultation Responses

We produce more detailed notes on topical issues related to public service pensions. To read our most recent Spotlight please click here.

If you would like copies of any Spotlights or consultation responses prior to 2018 please get in touch with one of the team.

Aon Public Sector Risk Management

You may also be interested in the services provided by Aon's Public Sector Risk Management Team. The Team focuses on providing highly specialised risk management services and insurance products to UK public sector organisations, including customised insurance for Local Pension Boards and advice on dealing with Cyber Risk.

Further information on the services provided and how to get in touch with the Team are provided by clicking here.

 

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

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