LONDON (9 July 2019) – Aon plc (NYSE:AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, has issued a new interactive paper ‘Defined Benefit Consolidation: what are your opportunities?’, which examines the different options that UK pension schemes now have to deliver consolidation as a way of achieving better outcomes.
Matthew Arends, head of UK Retirement Policy for Aon, said:
“Consolidation is a wide term which covers a number of options – most of which have been around for a while. But the Department for Work & Pensions’ 2018 White Paper and subsequent consultation ‘Consolidation of Defined Benefit Pension Schemes’ highlighted the idea afresh and introduced the idea of both commercial consolidators and a potential framework for their authorisation and regulation.
“In our new interactive paper we have looked at the new breed of commercial consolidators in the context of other consolidation options, with the aim of giving trustees and sponsors some guidance on what may - or may not – be appropriate for them. The answer for each scheme will depend on its own objectives, goals and circumstances, but overall we think that a focus on improving the efficiency and governance of DB schemes is most welcome and that the resulting focus on getting to the endgame for a DB scheme is also an important development.”
‘Defined Benefit Consolidation: what are your opportunities?’ is available here.
For further information please contact:
020 3755 1641
Notes to Editors
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.
Aon announced in May 2018 it will retire the business unit brands of Aon Benfield and Aon Risk Solutions, which follows the retirement of the Aon Hewitt business unit brand in 2017. This move was designed to increase the rate of innovation across the firm and make it easier for colleagues to work together to bring the best of Aon to clients. Aon has five specific global solution lines: Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions and Data & Analytic Services.
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