Aon launches online retirement platform to deliver freedoms

The service, which is part Aon's Bigblue Touch group personal pensions package, is now being offered to retiring scheme members.

They will be given access to an annuity broking service to compare prices and select the provider and annuity which matches their needs.

Flexible drawdown, access to cash and range of investment funds and strategies will also be available alongside online modelling tools and access to advice if needed.

Aon Employee Benefits head of defined contribution (DC) proposition Debbie Falvey said: "With increased freedoms since April this year, there is now a great deal, more choice, but this needs to be supported and guided responsibly.

"Bigblue Touch 4life helps members make sense of their options. It allows them to make fully informed decisions and to structure their retirement savings in a way that has previously been impossible."

Aon said its own research showed nearly two-thirds of large pension schemes were actively considering how they could help their members access a drawdown solution, but many schemes were daunted by the potential risks.

In May research from the DC Investment Forum said their biggest challenge was engaging with members.

Falvey added: "We think the risk of not offering members a preferred ‘At Retirement' solution might be greater than not doing so - and members rightly expect support to help them retire successfully. We believe Bigblue Touch 4life can give trustees, employers and members the confidence they need."

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• Topics
• Defined Contribution
• Aon Hewitt
• defined contribution
• drawdown
• Annuities