London, 4 July, 2013 – Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE: AON), has commented on the sponsor support discussion paper, issued by the European Insurance and Occupational Pensions Authority (EIOPA). The paper focuses on the methodologies that can be used to determine the level of sponsor support for occupational pension schemes in the European Economic Area (EEA). This follows Commissioner Barnier's recent announcement that his forthcoming proposal for a new pension scheme directive will not cover insolvency of pension schemes.

Martin Lowes, partner at Aon Hewitt, said:
"Aon Hewitt has worked extensively at a senior level with European clients, industry groups and government officials to ensure that their views on the impact of the new solvency rules have been heard. It is reassuring that EIOPA and the European Commission (EC) have listened and - for the time being at least - have abandoned plans for new solvency requirements.

"More than anything, we are relieved that commonsense has prevailed. Previously, EIOPA had been giving the impression that sponsor support could be determined using a few lines of complex mathematical formulae. There now appears to be willingness to use a method which allows the use of judgement as well as the type of credit assessment techniques commonly used by other financial institutions. This paper contains some good guidelines to allow sponsor support to be determined in a more robust, transparent and proportionate manner."

Martin Lowes continued:
"European Commissioner Barnier has admitted the need for the EC to deepen its knowledge before taking any new decisions in this area, and EIOPA's discussion paper is a welcome contribution to this learning process.  What we need to see now, is the EC and EIOPA working with European pension funds and their sponsors to gain a full understanding of this complex issue of sponsor support.  Work in this area in the UK has evolved significantly over the last decade and we would encourage both bodies to make use of this UK experience and market expertise (especially where it involved sponsors with a foreign parent company) in order to deepen its knowledge further."

Media Contacts:
Colin Mayes                                         Giles Abbott
 Aon Hewitt                                           Capital MSL
 01372 733689                                      020 7307 5340
colin.mayes@aonhewitt.com                  giles.abbott@capitalmsl.com

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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 retirement 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.

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 61,000 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, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources. Visit www.aon.com for more information on Aon and www.aon.com/manchesterunited to learn about Aon's global partnership and shirt sponsorship with Manchester United.