LONDON, 16 September 2026 – Aon plc (NYSE: AON), a leading global professional services firm, has released its Insurer Views on Member Options and Support Post-Buyout survey, which found that UK bulk annuity insurers are continuing to invest heavily in the experience they provide to pension scheme members.
The survey, which covered the 10 bulk annuity insurers currently active in the market, found that insurers have accelerated investment in member-facing capabilities over the last 12 months and that member experience is now a regular and increasingly important feature of the buyout tender process. This finding builds on the firm's 2025 survey, which identified a clear shift in insurers' strategic intent to develop the level of member options and support offered after a buyout. Although pricing remains important, trustees and sponsors - many of which now have schemes in surplus – are increasingly able to look beyond purely cost and, if possible, improve the member journey.
Key survey findings include:
- All insurers surveyed now have a self-service online administration portal. A third have developed a fully digital retirement process, enabling members to generate quotes and complete retirement election forms entirely online.
- Developing an end-to-end digital retirement journey was noted as the most important development priority by insurers.
- Nine-out-of-ten insurers are prepared to offer a Bridging Pension Option at retirement. The appetite to offer a Pension Increase Exchange (PIE) at retirement remains more limited, with most insurers still considering whether they would offer this.
- Access to independent financial advice remains the least developed area, with only one insurer having carried out the preparatory work needed for members to access advice at preferential rates. Others are exploring the feasibility of including this where it is important to schemes.
Kelly Hurren, Partner and Head of Member Options and Support, Aon, said:
"Our client interactions increasingly show that member experience needs to be treated as a distinct workstream when trustees and sponsors are considering a buyout. Thankfully, this survey shows that the ongoing service that members will receive is now a much more prominent consideration in the buyout process than it was even just a few years ago.
"Insurers are continuing to invest in digital tools, retirement support and member options, so schemes have much more opportunity to preserve and in some cases enhance, the experience available to their members after buyout.
"For trustees and sponsors, the key is to be clear about their priorities. When schemes have strong views on the support and options they want members to be able to access in retirement, they should make these expectations explicit when engaging with insurers. The market is evolving quickly and insurers are increasingly responding to that demand."
ENDS
About Aon
Aon plc (NYSE:AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.
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