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FEBRUARY 2021
Pension Clicks
In this edition of Pension Clicks, we summarise recent pensions news and views in In Sight, examine the latest ways to navigate DB scheme wind-ups and explore how DB pensions can help members and employers improve outcomes in the event of redundancy.
In Sight – February
INTRODUCTION
Our quarterly summary of pensions issues covers The Pensions Regulator’s guidance on protecting schemes from employer distress, an update on Brexit-related pensions issues and a round-up of other news.
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Navigating the challenges of DB scheme wind-up
INTRODUCTION
The challenges of winding up a DB scheme – including the project risks, member impacts and interdependencies – have grown as a result of increasingly complex regulations. To help schemes navigate through these complexities we are pleased to introduce you to Harbour – delivering successful buyout and wind-up management.
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Using DB schemes to help improve outcomes in the event of redundancy
INTRODUCTION
As the economic consequences of COVID-19 continue to bite, many employers are making difficult decisions in relation to the size and shape of their workforce. At the same time, job prospects for those who find themselves unemployed are bleak – many older employees are finding themselves needing to cover a financial gap that could stretch for 10 years or more until they receive their State Pension. Andy Gaskell explores how DB pensions can help members and employers improve outcomes.
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Case studies: Member options insights – the pension scheme experience
INTRODUCTION
Hear from the Newell and Diageo pension schemes on their first hand experiences of recently-completed member options exercises. Both schemes share how they achieved high levels of engagement, supporting members to make fully informed decisions about their retirement options.
Podcast series: Practical diversity and inclusion tips for trustees
INTRODUCTION
Our podcast series shares practical actions trustees can take to address diversity and inclusion for their pension scheme.
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UK Benefits and Trends Survey 2021
INTRODUCTION
Our latest Benefits and Trends Survey saw a record number of participants. This year’s findings show that respondents are increasingly including ESG considerations in the design of their default fund or alternative fund options, and are keen to align their pension default fund ESG strategy with their wider Corporate Social Responsibility agenda.
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Retirement podcast – Focusing on the new Pension Schemes Act
INTRODUCTION
Key pension news from the last month summarised by Ricky Marsh. This month Ricky is joined by Matthew Arends and Ahmed Ali to discuss the new Pension Schemes Act and what it means in practice for trustees, sponsoring employers and the rest of the pensions world.
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Week in Markets
INTRODUCTION
A summary of market movements over the past fortnight.
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Aon in the press
This month, we believe that the risk settlement market dynamics in 2021 may be the best yet for UK pension schemes. We think that The Pensions Regulator’s approach to long-term targets will increase the financial pressure on scheme sponsors, and find that four in 10 UK pension schemes see the need for speed on GMP equalisation of historic transfers.
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.

10 February 2.15-3.00pm
Webinar: Aon’s Pension Cyber Scorecard – The Results So Far
With over 100 schemes now having completed the Aon Pension Cyber Scorecard, Paul McGlone and Lee Wilkinson discuss the most comprehensive set of data on cyber activity across UK pension schemes.

18 February 11am-12.00 midday
Webinar: Forecasting longevity while living in interesting times
Specialists from Aon’s Demographic Horizons™ team will cover how the pandemic impacts longevity assumptions, for actuarial valuations and in relation to potential future risk settlement transactions. They will share our views on the market consensus on future mortality improvements, including the proposed approach to CMI_2020 and what we see as the future outlook.

22-26 March
Pension Conference 2021
We have now opened registration for our annual Pension Conference. As you may have anticipated, the 2021 conference will be a virtual event. Our content teams have been working hard over the last few months to ensure the agenda gives you ample opportunity to participate as interactively as at our in-person events. View the full agenda and register for your place here.
Also on our website
Investment Conference: COVID, climate and compliance – are you ready for the new investment challenges? (9-13 November)
Listen to replays of all the sessions from our recent conference.

GMP equalisation webinar (4 November)
Expert views and questions on the Lloyds Bank hearing; exploring other schemes’ progress with GMP equalisation projects; and practical experience from early movers on governance, data and communications.

How DC investment strategy is changing
Listen again to this Professional Pensions webinar where Aon’s Chris Inman talks through changes in DC investment approaches with fellow industry experts.

Online monitoring tool for your scheme
Our Risk Analyzer tool is now used by over 900 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?
Check out these additional resources:
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