The National Local Government Pension Scheme (LGPS) Pensions Administration Operational Support Services Framework has appointed Aon as adviser.
Along with administration support services, this new Framework incorporates communications and engagement services.
The National LGPS Frameworks not only help LGPS Funds save money on procurement, but they also allow them to approach Aon directly for administrative and communications support and projects, without having to go through a competitive tender process.
With 16,300 businesses, 6.2 million members, and £276bn in assets, the LGPS is one of the world’s largest defined benefit (DB) pension schemes and the largest DB scheme in England and Wales.
Aon partner and head of public sector wealth solutions Alison Murray says: “The National LGPS Framework plays a vital role in the delivery of public sector pension services. Its focus is on assuring quality through a fair process from which all can benefit.
“For the Aon team, this appointment to both ‘lots’ on the Framework is a recognition of the expertise of our people and the quality of our innovative services across the LGPS. We look forward to extending our working relationship with funds across the UK.”
Aon senior public sector consultant wealth solutions Craig Payne says: “We’re seeing LGPS Funds come under pressure from legislative and other changes, including those related to recruitment and retention. However, at Aon we are continuing to support a number of LGPS Funds in making better decisions and with help across all sorts of areas of administration and communication as they navigate new volatility. That ranges from backlog clearance and pensioner reconciliation projects to McCloud implementation and Pensions Saving Statement and Annual Benefit Statement calculations and production.
“This refreshed Framework will be really beneficial to funds that are seeking the help they need to deliver better outcomes to their members, and we look forward to helping more funds with that process.
“We’ve already seen a number of funds benefit from our insights and tailored approaches for improving their connected communications with members and employers. We’re excited to be able to give further support to the LGPS community in this vital area of pensions.”