Aon Hewitt's move to merge its pensions administration and HR processing business might give us a sign of things to come in the admin market.
The change came under the banner of efficiency, and who can blame Aon? It's no secret competitiveness in the pensions administration business is fierce. Studies have shown margins have been squeezed consistently...
Partner Insight: Members' evolving needs and expectations are driving changes in scheme administration. As the pensions landscape inevitably continues to change, how will your scheme's approach need to develop to keep pace?
The Pensions Regulator (TPR) is "working closely" with government contractor Interserve and the trustees of its defined benefit (DB) pension schemes, it has confirmed.
The industry has welcomed the Department for Work and Pensions' (DWP) consultation on defined benefit (DB) consolidation as a way to address scheme covenant issues.
BMO Global Asset Management has opened a UK fiduciary management business, promising a "truly open architecture" approach to deliver "better client outcomes".