Defined Benefit Pensions
As private sector defined benefit (DB) pension plans increase in maturity, they face a challenge in navigating the journey towards their long-term objective, whether that is self-sufficiency or the ability to secure members’ benefits in full. We use our experience in actuarial, investment and covenant consulting to help you devise your DB pension strategy including setting the long-term objective, managing the risks of the journey and seeking opportunities to accelerate the process of reducing risk and improve the member experience.
Aon has been advising both employers and trustees for many years about managing costs while improving the security of members’ benefits. We continue to innovate and, whatever your aim and scheme size (from those who have no specific pensions resource to large executive pensions teams), we offer access to the industry’s most effective solutions.
We ensure our specialists are closely aligned with industry developments, often leading industry groups. We have the breadth and depth of skills and solutions you need to manage both the financial and operational aspects of your DB pension plan’s journey.
Our DB services include:
2021/2022 Global Pension Risk Survey – UK Results
Our 2021/22 findings shine a spotlight both on the short-term impact of the COVID-19 pandemic for pension schemes’ risk priorities, and more crucially on long‑term trends for schemes.
The last year will have forced all trustees and sponsors to reflect on their scheme’s governance, asset and liability priorities and risk practices. There have inevitably been temporary disruptions caused by the pandemic, with schemes pausing and then restarting large-scale projects and reassessing the types and severity of risks they face.
Despite the short-term turmoil, the survey findings reinforce long‑term patterns towards de-risking assets, managing broader risks and adopting an end goal of buyout. The DB landscape is irrevocably changing and the focus of schemes is clearly on activities that will prepare them for their long‑term destination. The question for many schemes is not if, but how quickly, they will reach buyout.
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Contact us today to explore the ways in which Aon can help you reach a more stable future. Alternatively, please email us at [email protected].
Aon Solutions UK Limited - a company registered in England and Wales under registration number 4396810 with its registered office at The Aon Centre, The Leadenhall Building, 122 Leadenhall Street, London EC3V 4AN.