UK - The UK's £2.1bn Philips Pension Fund has reinstated Aon Consulting to administer its scheme, including both the final salary and money purchase elements.
The Croydon-based fund - which represents the UK arm of the Dutch electronics giant - in the UK has over 43,000 members, including 5,000 active members and nearly 20,000 pensioner members.
Commenting on the appointment, Philips Pension Fund manager, Alan Stone, said:
We have reappointed Aon Consulting because we have been very pleased with the depth of resource they have applied to meet the needs of the final salary section of the Philips Pension Fund.
“We have also been particularly impressed by the web based administration capability that will initially be implemented for the defined contribution section... .
Aon will administer the fund from its Croydon and Farnborough offices.
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