This follows Aon’s announcement in February that they are withdrawing from the standalone pension administration market while continuing to work with clients on an integrated basis.
The arrangement, which is subject to contract, will cover the clients serviced out of Aon’s office in Forss, Scotland. Equiniti will provide the full range of outsourced pension administration services, including related project work, with employees working on the schemes transferring to Equiniti when the sub-contract is signed.
Equiniti provides outsourced pension administration and market leading technology to some of the largest public and private sector schemes in the UK including GSK, Shell, telent, the National Health Service and the Armed Forces Veterans.
Ric Williams, CEO of EQ Paymaster, said: “We are delighted that Aon Hewitt has chosen to partner with Equiniti to deliver high quality administration services to these schemes. We look forward to welcoming the experienced and talented team in Forss, and to creating a seamless delivery of service to the clients and to their members. It is a testament to Equiniti’s focus on pension administration and technology that a company with Aon Hewitt’s reputation for service excellence has entrusted us to take on this responsibility.”
Will Durston, head of UK benefits administration for Aon Hewitt, said: “Aon remains committed to the UK pensions industry but we believe that keeping our focus on working with integrated clients is the right way forward for us. In moving away from working with clients on a standalone basis we were determined to meet all our client commitments and to find a suitable provider for our Forss clients to move into the future with.
“We are therefore very pleased to enter into this arrangement with Equiniti, through which we can be assured that our three Forss clients move to a high quality provider and also that our employees transition to an organisation with similar values to our own.”
For further information please contact: