Aon International Retirement Monthly Newsletter – October 2021

This month’s newsletter is packed with interesting articles, papers and webinars. Highlights include the APAC Aon Insights Series and an article on how schemes are dealing with cyber risk, pensions and investment. As the 2021 Year End is fast approaching, we also provide data and insights on IAS19 and US GAAP pension accounting assumptions.

The focus of our next session in the International Retirement Webinar series will be Mexico and Latin America on 3 November where we will discuss a range of topics covering the retirement landscape. In previous months we have focused on Germany, Brazil and South Korea. Click here to register and click here to watch previous webinars.

If you have any feedback or if there if something you'd like to hear more of then please let us know.

From Colin Haines, Partner, International Retirement & Investment

WEBINARS AND THOUGHT LEADERSHIP

Global

Aon’s 2021 Global Defined Contribution (DC) Retirement Study
Globally, total retirement savings have now exceeded USD $50 trillion. The OECD reports that most of these assets are now in Defined Contribution (DC) savings and this is only going to increase. In this survey Aon asked employers across the world about their approach to delivering DC savings to employees in a series of detailed local market surveys. The results can be found here.

Aon's Global Survey of Retirement Plan Accounting Assumptions
This report presents the results of Aon’s global survey of accounting assumptions used for employee benefit plans at 2020 year-end. The results of this survey may be useful to companies when setting preliminary assumptions for 2021 year-end and budgets for 2022. See the results here.

International View on Employee Benefits Accounting
The 30 September 2021 edition of Aon's newsletter on discount rates, inflation rates, asset performance and other elements that influence your company's pension and other defined benefit liabilities. More information can be found here.

United Kingdom

Risk Settlement Bulletin – Q3 2021
This bulletin delves into the story of the bulk annuity market so far in 2021, explores the latest pricing trends and investigates longevity swaps as an alternative option for schemes. Access the bulletin here.

Aon Member Options Digital Conference – 21 September 2021
The conference will link three distinct areas with the common theme – what have recent experiences taught us to improve things for pension schemes and their members in future? This includes learning from the experiences of pensioners who have retired in the post freedom world, the GMP conversion and PIE ‘early movers’ and the developments in the DB world to improve outcomes for DC members. Sign up here.

Aon Podcasts – Focusing on the Pensions Consumer Journey
Join Aon’s Ricky Marsh, John Foster and Anne Oliver in this month’s edition of the retirement market update podcast series where they discuss the DC Pensions Consumer Journey, following up from their work on Aon’s response to a joint call for input from The Pensions Regulator and the FCA. The podcast will also explore wider trends in pensions communications.

Cyber Risk, Pensions and Investment - article
Cyber Risk has risen quickly up the agenda for pension schemes. In this article first published in Portfolio Institutional, Paul McGlone, Aon Partner, considers how schemes are dealing with the issue, and specifically how it applies to scheme assets.

Annual Benefits and Trends Survey – NOW OPEN!
Aon’s latest UK Benefits and Trends Survey includes new questions on ESG and DEI initiatives, as well as staple employee benefit benchmarking questions covering benefit strategy and design, health and wellbeing, engagement, communications and workplace pensions. Take part now to benchmark your benefits strategy.

More content:

EMEA (excl. UK)

Aon Switzerland Webinar Series
This webinar series covers monthly seminars focusing on themes around risk, health, pension services and insurance. The next event will be on 28 October. Click here to sign up.

Here are some pieces you may have missed from previous newsletters month:

Ireland: IORP II is finally here…! – April Flash Report
Germany: Intergenerational justice in the bAV – Urgent need for action for fairer pensions
Netherlands: New Pension Law

APAC

Aon Insights Series 2021: Asia Shaping Better Business Decisions
Returning for its sixth run, the Aon Insights Series 2021: Asia explores how leading-edge data-driven insights and analysis can help business leaders understand risks, seize opportunities, and make better decisions. Click here to sign up.

India: India’s National Pension Program Gains Acceptance, but Hurdles Remain
Companies in India are increasingly offering employees the option to save for retirement through the government-run National Pension System (NPS). Aon’s Vishal Grover and other retirement planning experts discuss how more work needs to be done to encourage employees to pursue this option. Access the article here.

More content:
Here are some pieces you may have missed last month:

Australia: Change is Coming to Australia’s Retirement Contribution Scheme; Here’s What Employers Should Know
Japan: Employer Retirement Risk Implications of Reduction to Investment Product Returns

Stay updated

Access our latest APAC Retirement & Investment Insights

United States & Canada

Mid-Year Update | U.S. Pension Risk Transfer Market
The mid-year update provides pension risk transfer transaction information and pricing themes for the first half of 2021. It also highlights what to expect for the remainder of the year for premiums, demand from insurers, and assets-in-kind. Read more here.

Enhanced LDI
Traditional LDI investments are concentrated in areas that are expensive (long government and credit), without perfectly hedging liability risks, creating opportunities for improvement. In this paper Aon discusses how using Enhanced LDI, or eLDI, to diversify pure government/credit liability-hedging portfolios may improve results. Access the paper here.

More content:

DATES FOR YOUR DIARY

International Retirement Webinar Series
Join Aon's International Retirement & Investment team to hear insights on local market developments around the world. Each webinar will help those responsible for governing, managing and overseeing retirement plans to understand new local retirement topics and key changes in local legislation. Most recent webinars have included Germany, South Korea and Brazil and on 3 November 2021 the focus will be Mexico and Latin America. Click here to register and click here to watch previous webinars

2021 WEBINAR RECORDINGS

You or your colleagues may be interested in accessing these recent webinars:

Global: Vaccines, volatility and value – charting the course for 2021.This webinar is designed to support companies in this very complex environment as they set strategies for the year(s) ahead.
US: Q1 Market Update - R&I Investment Series Kick-off - Investing in 2021: The Real Risk/Reward Challenge
US: Pooled Employer Plans, SECURE 2.0, and the Future of Retirement Security.
Ireland: IORP II - Preparing for Compliance for Irish Pension Schemes
UK: The Decline of Women's Labour Market Participation During COVID-19: A Systemic Risk
UK: Virtual DC Live Week: Keeping on track in challenging times
UK: 2021 Risk Settlement Conference Replays
UK: Helping smaller schemes succeed in a busy market place
Canada: Canadian Pension Risk Strategies
South Africa: Weathering the Storm in South Africa

For additional information and other international retirement queries, please contact us.

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