UK - Staff at Aon (UK) are to test a new flexible benefits system designed by sister company, Aon Consulting.
The consultant developed Select – a system for dealing with the administration of flexible benefit schemes – as part of its plans to diversify away from “ordinary” pensions.
It believes companies have wanted to implement flexible benefit plans for some time, but most have been deterred by the failure of current administration systems to deal with them efficiently.
Aon Consulting intends to roll out the new administration platform in July but Aon (UK) employees will be the first to give the system a trial in January.
Around 10,000 Aon workers from its consulting, insurance and risk management divisions will be included in the scheme.
Aon senior consultant and actuary Joe McQuade said: “Aon has a very good tool for dealing with flexible benefits and it is going to be used throughout the group.
He added: “Flexible benefits have been around for discussion for quite some time, but I think that most people have been fearful of the administration consequences of it.
“It is only now that we have the confidence to do it.”
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