LONDON 24 November 2014 - Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE: AON), comments on CMI_2014, the 2014 update of the CMI's Mortality Projections Model released today by the Continuous Mortality Investigation committee of the Institute & Faculty of Actuaries.
 
Martin Lowes, partner at Aon Hewitt said:
"We are pleased with the tweaks that the CMI has made to the way it incorporates historic mortality data into the model to address some of the anomalies and to improve the approach to smoothing out some of the annual ‘noise’ in the data. This should produce a more up-to-date and reliable model."
 
Using the CMI_2014 Model will typically reduce the value placed on pension liabilities by around ½% for men, with little impact for women compared to using the CMI_2013 Model.
 
Martin Lowes continued:
"Deaths data is very erratic - it varies a lot from one year to the next. It is important that pension scheme trustees and sponsors do not read too much into one year's data, or the impact of that data on the updated CMI Model. It is why the production of the CMI Model starts by smoothing the data. Nevertheless, looking over a longer period, the trend in recent years does suggest that there has been a slight slowing in the rate of mortality improvement at pensioner ages. The pattern of future improvements built into the CMI Core Model is consistent with this, projecting a gradual reduction from current improvement rates to a lower long term rate."

Media Contact:
Colin Mayes                                   Anelia Fikiina
Aon Hewitt                                     Capital MSL
01372 733689                                 020 3219 8887
colin.mayes@aonhewitt.com            anelia.fikiina@capitalmsl.com

Notes to Editors

About Aon Hewitt
Aon Hewitt empowers organisations and individuals to secure a better future through innovative talent, retirement and health solutions. We advise, design and execute a wide range of solutions that enable clients to cultivate talent to drive organisational and personal performance and growth, navigate risk while providing new levels of financial security, and redefine health solutions for greater choice, affordability and wellness.  Aon Hewitt is the global leader in human resource solutions, with over 30,000 professionals in 90 countries serving more than 20,000 clients worldwide.  For more information on Aon Hewitt, please visit www.aonhewitt.com

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About Aon
Aon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 66,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world’s best broker, best insurance intermediary, best reinsurance intermediary, best captives manager, and best employee benefits consulting firm by multiple industry sources. Visit aon.com for more information on Aon and aon.com/manchesterunited to learn about Aon’s global partnership with Manchester United.