LONDON, 08 October 2020 – Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, has announced that Thames Water’s Defined Contribution (DC) Stakeholder arrangements will transition to The Aon MasterTrust.
Thames Water is the UK’s biggest water and wastewater services provider and its DC scheme has about 5,000 members. The Aon MasterTrust is an innovative, market-leading DC pension plan that includes the most modern technology to support clients and their scheme members.
By entering The Aon MasterTrust, Thames Water’s members will now have access to an arrangement that offers better value, greater flexibility and enhanced features, including:
- A reduced administration charge, meaning more of their pension contributions are invested for future retirement income
- An enhanced investment offering managed by Aon’s award-winning fiduciary team
- Easy access to a full range of flexible retirement options
- Online tools and modellers to help members plan savings and retirement options including full app and mobile support
- Integrated financial wellbeing support enabling members to plan retirement provisions in the context of their wider savings and expenditures
Lynne Graham, HR Director at Thames Water, said:
“We recently reviewed our pension provider to make sure we have a service which gives our employees value for money and a range of benefits, such as a choice of investment options and simple to use online tools. We wanted to offer our members access to the best plan available with a good pension outcome on retirement and we’re delighted to have agreed a new partnership with Aon.”
Tony Britton, head of UK DC Solutions at Aon, said:
“Thames Water ran a very thorough and detailed selection process, followed by an extensive consultation process, so Aon is proud to have been chosen to work alongside such an innovative and important organisation – a household name to so many homes around London and the Thames Valley.
“We have seen a real market shift with master trusts becoming increasingly popular DC vehicles. Our own master trust has shown significant growth since going live in 2017, and, including clients that are currently onboarding, we now have over £2.5 billion of assets committed across our DC range.”
About the Aon Master Trust
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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