Aon Empower Results

Pension Clicks

In this edition of Pension Clicks, we summarise recent pensions news in In Sight, explore the investment approaches maturing schemes are using and ask whether investors should stick with factor-based strategies.

In Sight – November
Our quarterly summary of pensions issues covers the new Pension Schemes Bill, the latest on GMP equalisation, investment duties for trustees, and a round-up of other news.

Global Pension Risk Survey 2019: read chapter 2 – Investment strategy considerations
How are schemes adapting their investment strategies as they mature? Chapter 2 of our survey examines how schemes have changed their investment strategy in the last 12 months, and what changes they anticipate making in the next year. If you want to read more, an extended version looks in more depth at the issues raised.

Podcast: Global Pension Risk Survey Chapter 2 – Investment strategy considerations
These themes are explored in more detail in our short podcast; listen to Aon’s investment experts discuss the survey findings.

Factor investing roundtable
Asset owners with factor-based investing exposure are having a tough time. Should investors stick with their factor-based strategies? Aon’s Andy Peach debates alongside a panel of fellow pensions experts.

Global Perspectives on Responsible Investing 2019
The results of our survey, which polled 229 global investors, found a huge increase in the importance of responsible investing (RI) to institutional investors across geographies, investor types and firm sizes. Download the report summary and listen to our podcast discussing the findings.

Pensions cyber risk: pulling it all together
Pension schemes hold substantial amounts of personal data, have regular financial transactions, and are managed by trustees who often have no dedicated IT support. As such they are prime targets for a cyber-attack. In this document we set out a series of measures that we believe all schemes should consider as part of their ongoing cyber resilience programme.

How much and by when? How to tackle retirement uncertainty
Like it or not, retirement means something very different in today's world of work. How can HR leaders move employees from retirement uncertainty to retirement adequacy? Sophia Singleton investigates in this article, published by HRD Connect.

Engaging with DC – roundtable
What’s next for auto-enrolment and master trusts; the emergence of the pensions dashboard; and the reasons for member engagement: some of the topics discussed by Aon’s Steven Leigh and a panel at this Pensions Age roundtable.

How should your scheme approach GMP equalisation? Our personality quiz might help you decide
The quiz will help you consider some key issues in GMP equalisation and the right approach for your scheme. What might a successful project look like for you? Answer the questions to identify your main personality type and so your likely approach to GMP equalisation.

Podcast: Be aware of behavioural biases when de-risking
Key findings from our recent research, in partnership with behavioural science experts Behave London. Karen Gainsford speaks to Behave London's Hannah Lewis about the behavioural biases which can act as barriers to being better informed and making better decisions.

Guide to Member Options
In chapter four of our guide, we explore how partial transfers can combine the security of a DB pension with the flexibility of a DC pension.

Retirement podcast - risk settlement
Key pension news from the last month summarised by Ricky Marsh. Ricky is joined by John Baines and Stephen Purves to discuss the current trends in the risk settlement markets, focusing on the jumbo deals completed in the last few months.

Risk Settlement Bulletin
This month’s bulletin reports on recent record-breaking deals and FTSE 100 risk settlement activity, as well as exploring how schemes of all sizes can become ‘transaction ready’.

Week in Markets
A summary of market movements over the past week.

Aon in the press
This month, we believe that the Pension Schemes Bill measures are overdue. Our survey shows a big rise in responsible investing while our Global Pension Risk Survey shows that liability management is on the increase as schemes mature.

We act as lead trustee adviser on a £3.8 billion buyout for the Asda Group Pension Scheme with Rothesay Life, as FTSE-100 risk settlement transactions reach £70 billion and the pension risk settled in eight ‘jumbo’ transactions in 2019 exceeds total market volume for any previous year.

We find that a quarter of UK schemes are unprepared for the cyber risks they face, and our survey on DC finds that there is a lack of clarity on what people need in retirement.

November 2019

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Dates for your diary

Pensions training dates available

Sign up here to reserve your place on any of the courses on our 2019/20 pensions training calendar.

13 November, London
The cost of running a pension fund
Are you overpaying your asset managers? This is the topic we will discuss at the latest in our series of investment breakfast seminars.

Also on our website

Global Pension Risk Survey: how are schemes managing their maturity?
Hear insights from the UK findings of our 2019 Global Pension Risk Survey and find out how rapidly-maturing DB schemes are tackling the need to make decisions about both scheme assets and the liabilities.

Providing options for members of DB schemes
Listen to our recent webinar, addressing the provision of options and support for members of DB schemes at retirement and in bulk exercises.

Webinar: Global DC and Financial Wellbeing Employee Survey
Listen again to our global webinar. How does reality compare with the perception of employees’ financial health? What do employees think about retirement? And how can employers balance workforce planning needs with a productive, engaged workforce?

Webinar: Mortality trends and longevity risk
Listen again to our webinar for updates on mortality data, longevity risk and the longevity market – is it reaching capacity?

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.