LONDON, 1 February 2021 – Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, has been appointed to provide administration services to the General Motors UK Pension Schemes. The appointment will become effective in the second quarter of 2021.
The £3.25 billion General Motors UK schemes have 18,000 members, with Aon acting as scheme actuary to three of the four schemes. The schemes’ administration has been run in-house but in 2019 the trustees decided to outsource scheme administration for the first time, with the aim of finding a partner that could match and build on the existing high quality of service provided to members.
Rob Assinder, chairman of GM UK Pension Trustees Limited, said:
“We have had a proven working relationship with Aon in its actuarial role for some time and after a rigorous selection and due diligence process, were confident that Aon’s Pensions Administration team was 100% committed to building on that existing link and was the right organisation with which to partner. Importantly, we expect that Aon’s increased use of technology and self-service capabilities will be a significant step in moving our member experience to the next level.”
Gary Cowler, partner and co-lead, UK Pensions Administration at Aon, said:
“When the plan Trustee started the process that led to this appointment, it was very apparent that it was quite rightly intent on building a partnership focused on ensuring the best possible outcome for its scheme members.
“Aon has made a huge investment in transforming its administration business over the last five years, and that’s put us in the right position to fulfil the demands of this appointment. Combining that investment with a genuinely Aon United approach from our administration and advisory teams has enabled us to be well placed to provide an enhanced service and therefore the best possible for General Motors’ scheme members.”
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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