UK - Aon Consulting is considering closing its Birmingham office, Professional Pensions has learned.
The closure is likely when its lease runs out in July next year although a spokesman insisted the company had not yet reached any final decisions about the future of the office.
He said: “Undeniably, one of the options is to close down the pensions administration office in Birmingham.
“All we have announced is that we are reviewing the situation. I wouldn’t like to second guess what that review will come up with.”
It is understood that Birmingham staff will be given the option of relocating to Aon’s office at Harlow, Essex – although sources believe it is unlikely that many would want to make such a move.
In October, the Harlow office was dropped as administrator and consultant to the £9bn BP pension scheme and £700m Burma Castrol Pension Fund after an eight-year relationship, with BP deciding to take the administration in-house.
The Environment Agency Pension Fund (EAPF) has joined a coalition of 88 investors to demand companies disclose more information on environmental impact.
The cross industry guaranteed minimum pension (GMP) equalisation working group has formed five sub-committees to each work on a key component of the guidance.
KAS Bank has launched an end-to-end cost transparency solution for defined contribution (DC) schemes to assist in the delivery of chair's statements.