United Kingdom

New paper from Aon aims to help pension schemes to increase their effectiveness

LONDON, 29 September 2020 – Aon plc (NYSE:AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, has issued ‘Adapting and Enhancing Pension Scheme Effectiveness’, a new paper which aims to help UK pension schemes into the next stage of reviewing their operations and in the movement to new, more effective, approaches.

In a year of considerable uncertainty, pension scheme trustees have had to adapt to changing circumstances and meet new challenges – to which in many cases their normal governance systems were not naturally attuned.

Susan Hoare, partner at Aon, said:
“While much has changed and is still changing in 2020, one thing hasn't and that is members’ needs, so it's paramount that pension schemes find ways to maintain the highest of standards whatever the circumstances.

Susan Hoare continued:
“Everyone knows the maxim of making good use of a crisis, but this has been an exceptional year that has probably changed many business practices permanently. Pension schemes are no exception to this and many have already taken steps to find new ways of doing things and, in many cases, have done so very successfully.

“We may well yet have a long time to go in this pandemic-driven period, so scheme governance and practices need to remain agile in adapting to circumstances as they change. We hope that the thinking and suggestions in this paper – drawn from advising and observing many of our clients – will be helpful to schemes in finding ways that will work well for them and their members.”

‘Adapting and Enhancing Pension Scheme Effectiveness’ is available here.

Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

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