LONDON, 28 October 2024 – Aon plc (NYSE: AON), a leading global professional services firm, has announced that The Wolseley Group has chosen The Aon MasterTrust as its new pension provider.
As one of the UK’s leading merchants in plumbing, heating, cooling and infrastructure, The Wolseley Group has a £230 million defined contribution (DC) scheme with more than 13,000 members. It opted to move to The Aon MasterTrust after a thorough and detailed bid process overseen by Vidett, (previously known as Punter Southall Governance Services). Aon now provides the group with master trust services along with integrated life cover broking, administration and claims settlement.
Ant Donaldson, reward manager at The Wolseley Group said:
“We really wanted to focus on optimising outcomes for our members, so we spent a lot of time on comparing investment performance and strategies, supported by specialist consultants. We also looked at the support given, plus the range and accessibility of the different options available when members come to access their benefits - together with ongoing engagement with members throughout their pension journeys.”
“Aon stood out in those analyses and then followed through by supporting every step of our transition, including working alongside us throughout our all-colleague consultation, providing clear and engaging communications, including a series of presentations and webinars. It then put in place a joint post-implementation communication plan to deliver a step-change in members’ engagement with their Wolseley pensions.”
Ant Donaldson continued:
“We monitor progress through a series of monthly and quarterly meetings, and I’m happy to say that we’re delighted by how well all aspects of the transition and subsequent bedding-in have gone, and we very much value the ongoing support provided by the team at Aon.”
Louise Wheeler, head of clients for Aon DC solutions in the UK, said:
“Wolseley’s values are built around exceptional service for their customers and nurturing their employees. This matches Aon’s approach to caring for our clients and their members, and so we were thrilled that we were able to work with Wolseley and work so closely together to deliver fantastic engagement levels in the Aon MasterTrust.”
Tony Pugh, partner and EMEA DC solutions leader at Aon, said:
“Alongside looking for a pension provider that would work closely with them, Wolseley needed to ensure the ongoing efficient management of their staff death-in-service benefits. Aon was already building life assurance master trust solutions to meet a wide range of client needs, so we were able to accelerate the delivery of these to provide Wolseley and its employees uninterrupted cover via our fully outsourced solution.”
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