Aon Pension Benefit Design Survey 2019 sees acceleration in scheme closures

18 June 2019

Aon publishes on a press release:

“Aon plc (NYSE:AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, has said that its latest Pension Benefit Design Survey shows that an increasing number of UK defined benefit (DB) schemes have undertaken benefit reviews in the last four years and that closure of schemes has accelerated as a result.

The Aon survey of 317 DB schemes, ranging in size from under £20 million to over £40 billion, revealed that over the last four years, 105 schemes had reviewed DB benefits, with 60% of schemes now closed to DB accrual – up from 48% in the last survey in 2014 – and with a further 21% reducing future accrual in some way.”

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