Aon | Empower Results
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April 2021
Pension Clicks
In this edition of Pension Clicks, we examine a new code of practice from TPR, explore how DC schemes can keep members' savings on track in challenging times and join law firm CMS in a podcast on Collective DC.
ITG note – a new code of practice from TPR
INTRODUCTION
The Pensions Regulator has published a 10 week consultation on a consolidation of ten of its existing codes of practice. The new code also incorporates changes introduced by the 2018 governance regulations. Our ITG note summarises the proposed requirements.
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Keeping on track
INTRODUCTION
Steven Leigh considers how to keep DC savings on track in challenging times. First published in Pensions Age.
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Podcast: Collective DC
INTRODUCTION
In this edition of law firm CMS' pensions podcast, Aon's Chintan Gandhi discusses CDC: what it is, what the issues might be and what the future holds.
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Assessing your financial wellbeing provision
INTRODUCTION
We have created a short survey tool to look at your current financial wellbeing arrangements. By completing this quick survey (which takes less than 1 minute) we will be able to provide you with a benchmark of where your provision stands in relation to others, help identify any gaps in your provision and advise on how to make the best of your financial wellbeing offering to employees.
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Pension Schemes Act 2021
INTRODUCTION
The Pension Schemes Act 2021 introduces new criminal offences (including imprisonment) in relation to pension schemes and employers. The Pensions Regulator is consulting on how it will investigate and prosecute in relation to the new offences. Are you concerned? Or do you expect this to benefit the industry?

Aon will be responding to the consultation and invites you to complete our short survey (anonymously) to help us to understand the potential impact of the new offences, and give you the opportunity to have your voice heard.
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2021 Member Options Survey
INTRODUCTION
Aon's fourth annual Member Options Survey gathered the views of 316 pension schemes. Building on the results of previous years, it continues to focus on the level of support available to members at retirement and the changes schemes plan to make over the next year. Read key findings along with insights into pension scams and the impact of COVID-19.
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Video: When might a Superfund be needed?
INTRODUCTION
John Baines addressed this question recently at Professional Pensions' DB Consolidation Conference. His presentation considers various scenarios in which trustees might consider entering a Superfund, what schemes looking to go down this route should expect and what trustees should consider when exploring consolidation.
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Insights from Aon's Accounting Strategy team
INTRODUCTION
This report looks at a rollercoaster 2020 and the economic impact COVID-19 had on the funding position of UK pension schemes. Find out here how you can get a FREE bespoke benchmark report on how your scheme is performing compared to your peers, which will help you develop your plans for 2021, focussed on taking advantage of opportunities to undo any damage done in 2020 and to build a more resilient scheme for the future. 
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UK risk settlement market update: March 2021
INTRODUCTION
2020 witnessed the busiest year on record for risk settlement transactions with over £55bn of activity. This report summarises 2020 highlights and looks ahead to the remainder of 2021, which is set to be another bumper year for the risk settlement market.
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Professional Pensions' Pensions Administration Survey
INTRODUCTION
Are you an Aon pensions administration client? If so, please take the opportunity to share your experience and feedback in Professional Pensions' Pensions Administration Survey.
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The benefits of ESG integration
INTRODUCTION
In a world where ESG concerns are more pressing than ever, investors and companies are increasingly paying attention to ESG integration as the benefits become more evident and the risks and opportunities around ESG grow. Mark Jeavons explores why in this latest paper from Aon's Responsible Investment team.
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Getting to buyout: quicker, cheaper and with less risk
INTRODUCTION
Many pension schemes today are well progressed on their endgame journeys and for many this means targeting securing their members' benefits with an insurer. In this paper, we look at how pension schemes can achieve a smoother, more certain ride and get to buyout quicker, cheaper and with less risk.
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Retirement podcast: focus on TPR's Code of Practice consultation 
INTRODUCTION
Key pension news from the last month summarised by Ricky Marsh. This month Ricky is joined by Susan Hoare and Sarah Butlin to discuss The Pensions Regulator's Code of Practice consultation.
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Week in Markets
INTRODUCTION
A summary of market movements over the past week.
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Aon in the press
This month, we confirm that 2020 was a record-breaking year for UK risk settlement while our new paper provides a guide for pension schemes looking towards buyout. We believe that the Lifetime Allowance freeze will hit DC savers disproportionately and that the single modular code consultation signals a change in approach from TPR. Our new paper outlines the benefits of ESG integration in investment and Aon is appointed by the London Borough of Southwark for investment advice. Our research finds that nearly all UK employers want to increase employee engagement with benefits and that purpose-led actions are increasingly prominent on UK employer agendas.
Dates for your diary
Pensions Training 2021
We are running a full schedule of DB, DC and pensions governance training in 2021. You can find a copy of our training brochure and register online here.

Wednesday 21 April, 2-2.45pm
Investing for impact – and success
Join us for our next meeting of Aon’s Responsible Investment Network as we explore the drivers for impact investing and practical steps trustees can take. Tim Manuel will draw on the insights and experiences of investors and advocates and will be joined by Geoff Skingsley, Chairman of L’Oréal UK & Ireland and its UK pension plan and Bella Landymore, Policy Director of the Impact investing Institute.
Also on our website
Aon's Pension Cyber Scorecard – the results so far
Listen to our recent webinar sharing results to date from Aon's Cyber Scorecard, a self-assessment tool for schemes to measure their cyber resilience.

Webinar replay: Forecasting longevity while living in interesting times
Listen to specialists from Aon's Demographic Horizons™ team giving insights into the impact that the pandemic has had on longevity assumptions and our view on the market consensus on future mortality improvements.

Online monitoring tool for your scheme
Our Risk Analyzer tool is now used by over 950 schemes to monitor various financial and risk measures. This video gives you an example of how Risk Analyzer could help you.
Looking for more information?
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