Loading

Aon Media Center

Aon Hewitt says rise in state pension age is wake-up call for employers
Change expected in today’s Autumn Statement
NYSE: AON

London, 5 December, 2013 – Aon Hewitt, the global talent, retirement and health solutions business of Aon plc (NYSE: AON), has said that employers need to get to grips with the implications of the increase in the state pension age expected to be announced in today's Autumn Statement.
Kevin Wesbroom, senior partner at Aon Hewitt said:

“Plans to bring forward the increase in the state pension age should be a wake-up call for employers. More than ever this indicates the importance of securing better member outcomes.

“We urge employers to participate fully in the government’s review of workplace pensions. The abolition of the default retirement age, the inexorable rise in longevity and an increasingly under-pensioned workforce could be a powerfully toxic combination for employers to deal with. Employers need a retirement strategy, just as much as they need a pension strategy.”

Kevin Wesbroom continued:
“Securing better member outcomes can take many guises - from investment on a collective basis to better governance and management of existing DC plans. And of course, there is the key issue - the elephant which is firmly in the room – that small contributions lead to small pensions.

“As the process of retirement increasingly becomes an extended process rather than a single event, innovation in the marketplace will be needed to deliver products and solutions that support members and employers.”
 

Media Contacts:
Colin Mayes                                               Adam Leviton
 Aon Hewitt                                                Capital MSL
 01372 733689                                            020 3219 8810
colin.mayes@aonhewitt.com                       adam.leviton@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 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.

Sign up for News Alerts: http://aon.mediaroom.com/

Follow Aon Hewitt on Twitter @AonHewittUK

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.



If you elect to comment or engage with our content via third-party social media websites, you authorize Aon to have access to certain social media profile information. Please click here to learn more about information that may be collected when using these tools on Aon.com


email Email   print Print   rss