LONDON, 3 September 2026 – Aon plc (NYSE: AON), a leading global professional services firm, has announced the launch of Run-On Futures, a new service designed to make a run-on strategy both realistic and cost-efficient for the UK's smaller defined benefit (DB) pension schemes.
As part of Aon's Future DB services, Run-On Futures combines scheme actuary, investment, covenant and administration services in a single integrated proposition. It is aimed at the trustees and sponsors of smaller DB schemes who want the option of running-on rather than moving immediately to an insurance-based endgame. Through this approach, run-on can be for the short- or longer-term and with the aim of sharing any surplus generated, but without incurring the cost and complexity of building a bespoke run-on model from scratch.
John Harvey, Senior Partner and Head of Run-On and Alternative Solutions, Aon, said:
"Run-on has become seen as the preserve of the very largest schemes. Aon's 2026 Endgame Survey found that 47% of schemes above £1 billion are planning to run on for a period beyond the point at which they could first buy out with an insurer. By comparison, only 14% of schemes below £100 million were considering this.
"Although we recognise that smaller schemes face genuine challenges when contemplating running on, such as limited management time and proportionately higher fixed running costs, we believe this gap reflects more of a perception issue in the market rather than a fundamental barrier."
Run-On Futures enables smaller schemes to:
- Adopt a proven run-on framework, sharing the learnings and best practice of Aon's Active Solution To Run-On (ASTRO) methodology which was developed with large-scheme clients.
- Access Aon-managed funds offering the same sophisticated, stable and diversified growth strategies that are typically reserved for larger schemes.
- Benefit from integrated actuarial, investment, covenant and administration services.
- Implement surplus generation and sharing with sponsors and members in a controlled, streamlined way.
- Control fixed running costs through Aon's economies of scale and standardised advice.
Lucy Barron, Partner and Head of Investment Endgame, Aon, said:
"With Run-On Futures we are giving trustees and sponsors of smaller schemes access to the same rigour, discipline and investment capability that larger schemes have long enjoyed. It's delivered through an integrated, cost-efficient model that makes run-on a practical and compelling choice. Most importantly, this offers the best possible outcomes for both smaller schemes and their members."
ENDS
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