LONDON (16 February 2017) – Aon plc (NYSE:AON), has announced that The Aon MasterTrust has completed the master trust assurance framework, an independent review made against a defined set of criteria. The framework, produced by the Institute of Chartered Accountants in England and Wales (ICAEW), sets out how trustees should report against a series of 'control objectives' related to governance and administration of a master trust, and which are aligned with the standards set out in the The Pensions Regulator’s (TPR) DC code.
In order to attain the assurance and to appear on the list of master trusts on the Regulator’s website, The Aon MasterTrust required a report from an accountant confirming that its procedures meet the control objectives required by the ICAEW (technically the objectives set out in the master trust supplement to AAF 02/07, produced by the ICAEW in partnership with TPR). The Type I report for The Aon MasterTrust was carried out by Smith & Williamson, the leading firm of accountants in this area.
Michael Clare, UK director of Aon Hewitt, said:
“This recognition of the quality of The Aon MasterTrust is an important step in its progress. From the start we designed it to be a superior product, offering the best that Aon can deliver in terms of investment choices and member support, and high quality administration – all with the aim of delivering better outcomes for members. The quality assurance framework is recognition of our market-beating proposition for members, trustees and employers.”
Roger Mattingly of Pan Trustees Limited, the chair of trustees of The Aon MasterTrust said:
“As trustees, this confirms our experience of dealing with The Aon MasterTrust. It is backed by an organisation that has a strong desire not just to survive in a more competitive and demanding landscape as the Regulator exercises its influence and powers, but also to thrive in this environment. Our governance will continue to ensure that this master trust is a leading example of what high quality pension provision can deliver for members, both now and in the future.”
For further information please contact:
Colin Mayes Anelia Fikiina
Aon Hewitt CNC
01372 733689 020 3219 8887
Notes to Editors
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