LONDON, 4 March 2015 - Aon Employee Benefits, the UK health and benefits business of Aon plc (NYSE:AON),  has announced the launch of Bigblue Touch, a new defined contribution (DC) pension scheme which links Aon’s Bigblue technology with BlackRock’s investment and administration services.  Bigblue Touch gives scheme members access to financial aggregation tools, which allow them  - for the first time – to build their retirement savings while also having access to financial education and information on all their personal finances; from mortgages and credit cards, to house values and savings - all throughout the life of their DC plan.

Debbie Falvey, head of DC proposition at Aon, said:
“The changes in last year’s Budget threw into sharp focus the issue of supporting DC members with their retirement saving and raised important questions about how employers can support their employees through the new range of choices at retirement, and in a way that is engaging and cost effective.

“With Bigblue Touch we offer a contract-based DC scheme linked to Aon’s award-winning Bigblue Money technology. This gives scheme members market-leading tools to enable them to track their personal finances in parallel with their retirement savings, putting them in a better position to understand if they are on track for the outcome they need.  When they come to draw down their benefits, it also allows them to see whether they can take advantage of the new legislation due in April this year.”

Debbie Falvey continued:
“Access to the Bigblue technology will continue even if scheme members leave their employer, or move into drawdown. With a robust governance framework and clear management information this is a scheme which works for both the employee and the employer. Bigblue Touch can be the solution for a qualifying workplace scheme, or a decumulation vehicle for trust based plans that don’t want to offer the full range of decumulation options in a scheme for retirees and deferred members.”

Key features of Bigblue Touch are:
-           A compliant workplace DC scheme that can be used for a qualifying work place pension
-           Financial aggregation tools that create a holistic view of financial affairs
-           A range of funds, including Aon Hewitt’s delegated funds
-           Intelligent individual trigger communications
-           A retirement options modeller
-           A full range of decumulation options
-           ‘Whole of market annuity’ selection including medically underwritten annuities
-           Personal financial education and support and advice where needed.

Bigblue Touch also includes default triggers (plus the capacity to create bespoke ones) that indicate when individuals might need professional support to deal with specific issues such as the possibility of breaching the Lifetime Allowance, or time to consider moving from drawdown to annuity - with the recommendation that an employee should seek financial advice.
BlackRock will provide bundled DC services including administration and investment funds including target date funds.

Paul Bucksey, head of BlackRock’s UK Defined Contribution business, said:
“This partnership further underlines our commitment to the UK DC market. BlackRock and Aon share a common goal to help workplace DC members achieve the very best possible financial position at retirement, whenever and however they choose to access their DC savings. We look forward to working with Aon to provide workplace DC scheme members with the tools, investment options and services they need to build a better future.”

The launch of Bigblue Touch follows Aon’s announcement of Delegated Investment services for DC schemes in the autumn of 2014 and continues the growth of Aon’s developing services in the DC market.
 

Media Contact:
Colin Mayes                               Marina Jane Sanchez
Aon Hewitt                                 CNC
01372 733689                             020 3219 8811
colin.mayes@aonhewitt.com       marina.jane-sanchez@cnc-communications.com
 

Notes to Editors

About Aon Employee Benefits
Aon Employee Benefits is the largest employee benefits consultancy in the UK. We are passionate about working with employers to deliver innovative, sustainable and engaging benefits solutions that are the best fit for our clients’ objectives and budgets. Whether you are a large corporate or SME, no matter where you are located and what industry you specialise in, our established reputation means we can negotiate the best employee benefits package for you.
We provide specialised consultancy services, design, implementation and support to our clients along with developing benefits technology solutions in-house. Our products and services include:
• Revolutionary and award-winning Bigblue. A platform that encompasses all benefits and all platforms, in one place with single sign on
• Health and risk benefits broking, consultancy and administration, including Trio, our innovative broking solution for SME clients
• Defined contribution pensions including auto-enrolment consultancy solution Simplyblue and our off the shelf proposition Littleblue
• Online reward hub Bigblue, also provides central access for employees to all areas of pay and reward
• Award-winning flexible benefits, total reward and benefit communications consultancy, technology and administration
All of the above services are provided in the UK and globally with our international benefits solutions from 500 dedicated offices in over 120 countries, encompassing 66,000 professionals.

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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.

About BlackRock
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2014, BlackRock’s AUM was $4.652 trillion. BlackRock helps clients meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of December 31, 2014, the firm had approximately 12,200 employees in more than 30 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company’s website at www.blackrock.com | Twitter: @blackrockuknews | LinkedIn: www.linkedin.com/company/blackrock