Aon Retirement Plan News

October (2026) option packs issued to some members of the Aon Bain Hogg benefit category

Thu, 15 Oct 2026 00:00:00 +0100

We're sending out option packs in October 2026 to a group of members of the legacy Aon Bain Hogg Section who chose to receive one.

July & August (2026) Pension proposal: confirming our decision

Mon, 05 Oct 2026 00:00:00 +0100

We wrote to certain groups of eligible pensioner and dependant members of the legacy Aon Bain Hogg Section in July and August to explain that:

we need to address an inequality relating to some historic Guaranteed Minimum Pension (GMP) benefits in the ARP, and
we were proposing to convert GMPs into a different form of pension – with no reduction to the current amount or expected value of pension.

Who's affected?

Not all members are affected by the historic inequality and our proposal, so it may be that the information below isn't relevant to you. If you've received a letter from us, it explains how you may be affected individually.

Also, we're carrying out this exercise is stages, so some members may receive communications at different times over the next 12–18 months.

Our invitation

For members we hadn't consulted with already, we invited your feedback on our proposal to convert GMPs, which would enable us to simplify pensions. If you'd like to remind yourself of the detail, please refer to the Summary page and/or our letter we sent you in July.

Consultation ended on 31 August 2026 for members who received a letter in July 2026.
Consultation ended on 28 September 2026 for members who received a letter in August 2026.

Thanks to all members who got in contact during this time. Having carefully considered all feedback we received during consultation, we've decided to proceed with our proposal.

We believe it's the most appropriate way to fulfil the legal requirement to address the historic GMP inequality and simplify members' benefits.

What happens next?

We'll carry out the appropriate benefit calculations and, if your ARP pension is affected, we'll write to you in the coming months with full details.

Remember: for most members, we expect any impact to be quite small. There will be no reduction to the current amount or expected value of your pension.

One-off pension option

We also summarised a pension option we're making available to eligible members. If you chose to receive an option pack with full details, you'll receive this in the coming months too, when we confirm any impact to your current pension once we've addressed the historic GMP inequality and converted GMPs.

Do I need to do anything?

You don't need to do anything now, but look out for your option pack (or pension statement if you chose not to receive an option pack) in due course.

July & August (2026) GMP consultation has ended

Tue, 29 Sep 2026 00:00:00 +0100

Our consultation with certain groups of members of the legacy Aon Bain Hogg Section on our proposal to convert GMPs into a different form of pension has ended.

Market Update – Iran conflict (relevant for members with DC benefits)

Thu, 09 Jul 2026 00:00:00 +0100

You will no doubt be aware of the conflict in the Middle East that broke out at the end of February 2026, with the US and Israel launching attacks on Iran and Iran responding with retaliatory attacks across the region.

May (2026) option packs issued to some members of the Aon Bain Hogg benefit category

Fri, 29 May 2026 00:00:00 +0100

We're sending out option packs in May 2026 to a group of members of the legacy Aon Bain Hogg Section who chose to receive one.

January (2026) option packs issued to some members of the Aon Bain Hogg benefit category

Thu, 08 Jan 2026 00:00:00 +0000

We're sending out option packs in January 2026 to a group of members of the legacy Aon Bain Hogg Section who chose to receive one.

If you received an initial communication from us in April 2025 and you chose not to receive an option pack, you'll receive a pension statement only instead. This will confirm any impact to your pension as a result of addressing any GMP inequality in your benefits.

Please note:

Not all members of the legacy Aon Bain Hogg Section who received an initial communication in April 2025 are included in this mailing.

If you received an initial communication in April 2025 but you don't receive a further mailing in January 2026 (or didn't receive one in September 2025), please be assured that you'll receive a further mailing in due course.

September (2025) Option packs issued to some members of the Aon Bain Hogg benefit category

Mon, 22 Sep 2025 00:00:00 +0100

We're sending out option packs in September 2025 to a group of members of the legacy Aon Bain Hogg Section who chose to receive one.

Please note:

Not all members of the legacy Aon Bain Hogg Section who received an initial communication in April 2025 are included in this mailing.

If you received an initial communication in April 2025 but don't receive a further mailing in September 2025, please be assured that you'll receive a further mailing in due course.

April (2025) Pension proposal: confirming our decision {2025}

Mon, 16 Jun 2025 00:00:00 +0100

We wrote to certain groups of eligible pensioner and dependant members of the legacy Aon Bain Hogg Section in April.

April (2025) GMP consultation has ended {2025}

Mon, 02 Jun 2025 00:00:00 +0100

Our consultation with certain groups of members of the legacy Aon Bain Hogg Section on our proposal to convert GMPs into a different form of pension has ended.

Coming soon: taking the retirement process digital

Wed, 14 May 2025 00:00:00 +0100

We're pleased to announce that the administration team will soon be launching a new digital platform.

April (2025) GMP consultation starts {2025}

Mon, 28 Apr 2025 00:00:00 +0100

We're consulting with groups of potentially affected members on our proposal to convert GMPs into a different form of pension, which will enable us to simplify members' pensions.

Update Spring 2025

Thu, 17 Apr 2025 00:00:00 +0100

Catch up on the latest ARP news with our Update newsletter.

Document updates (April 2025)

Thu, 17 Apr 2025 00:00:00 +0100

We've recently published the latest Summary Funding Statements to our library. To access these, head straight to 'Our document library'.

January (2025) Option packs issued to some members of the Aon UK benefit category

Fri, 17 Jan 2025 00:00:00 +0000

We're sending out option packs during January 2025 to a group of members of the legacy Aon UK Section who chose to receive one.

January (2025) Option packs issued to some members of the A&A benefit category

Fri, 10 Jan 2025 00:00:00 +0000

We're sending out option packs during January 2025 to a group of members of the legacy A&A Section who chose to receive one.

October (2024) Option packs issued to some members of the legacy Aon UK Section

Fri, 04 Oct 2024 00:00:00 +0100

We're sending out option packs during October 2024 to a group of members of the legacy Aon UK Section who chose to receive one.

If you received an initial communication from us in March 2024 and you chose not to receive an option pack, you'll receive a pension statement only instead. This will confirm any impact to your pension as a result of addressing any GMP inequality in your benefits.

Please note:

Not all members of the legacy Aon UK Section who received an initial communication in March 2024 are included in this mailing.

If you received an initial communication in March 2024 but don't receive a further mailing in October 2024, please be assured that you'll receive a further mailing in due course.

Important ARP updates

Wed, 26 Jun 2024 00:00:00 +0100

We recently sent a letter to all members about our plans for the ARP over the next few months and years. Please look out for your copy and take a moment to read it through.

March (2024) GMP proposal: confirming our decision

Mon, 20 May 2024 00:00:00 +0100

We wrote to certain groups of eligible pensioner and dependant members of the Aon UK Section and A&A Section in March (2024) to explain that:

we need to address an inequality relating to some historic Guaranteed Minimum Pension (GMP) benefits in the ARP, and
we were proposing to convert GMPs into a different form of pension – with no reduction to the current amount or expected value of pension.

March (2024) GMP consultation has ended

Tue, 30 Apr 2024 00:00:00 +0100

Our consultation with certain groups of members of the Aon UK Section and Aon A&A Section on our proposal to convert GMPs into a different form of pension has ended.

We'll confirm how we're going to proceed with another update here soon.

March (2024) GMP consultation starts

Wed, 27 Mar 2024 00:00:00 +0000

We're consulting with groups of potentially affected members on our proposal to convert GMPs into a different form of pension, which will enable us to simplify members' pensions.

February (2023) GMP pension proposal: confirming our decision

Thu, 14 Dec 2023 00:00:00 +0000

We wrote to eligible pensioner and dependant members of the Aon UK, Aon Bain Hogg and A&A Sections in February (2023) to explain that:

we need to address an inequality relating to some historic Guaranteed Minimum Pension (GMP) benefits in the ARP, and
we are proposing to convert GMPs into a different form of pension – with no reduction to the current amount or expected value of pension.

We are asking you to join us - Deadline approaching!

Wed, 08 Nov 2023 00:00:00 +0000

We are asking for a new member trustee to join us, taking up office in early 2024.

If you think you might be interested, read the invite, guide and further information available from the 'Member Trustee Application' section within 'Our document archive' page.

This process is now closed.

2023 Spring Budget: tax allowance changes

Sat, 14 Oct 2023 00:00:00 +0100

Following the Spring Budget, we published an article and supporting document in April about changes to the pension tax allowances. Since then, some of the detail behind the changes have been clarified so we've provided an update – and a recap – below.

2022/23 Report & Accounts

Thu, 12 Oct 2023 00:00:00 +0100

The ARP's Report & Accounts for the year ending 31 March 2023 is now available. The report goes into detail about the ARP's structure, management, membership, contributions, financial accounts and more. Select the link below or head straight to our document library.

See the latest 'Report & Accounts 2022/23' document.

Document updates (October 2023)

Tue, 10 Oct 2023 00:00:00 +0100

We've recently published a number of ARP documents to our library. To access these, head straight to 'Our document library'.

2023 Spring Budget

Thu, 06 Apr 2023 00:00:00 +0100

Changes to the UK pensions tax regime were announced in the Budget on 15 March 2023. This includes the intention to abolish the Lifetime Allowance but much of the detail is still to be confirmed. We will provide further updates as more detail is released.

Update Spring 2023

Wed, 29 Mar 2023 00:00:00 +0100

Catch up on the latest ARP news with our 2023 Update newsletter.

February (2023) GMP consultation has ended

Wed, 15 Mar 2023 00:00:00 +0000

The Aon A&A Section on our proposal to convert GMPs into a different form of pension has ended.

We'll confirm how we're going to proceed with another update here soon.

February (2023) GMP consultation starts

Thu, 16 Feb 2023 00:00:00 +0000

We're consulting with groups of potentially affected members on our proposal to convert GMPs into a different form of pension, which will enable us to simplify members' pensions.

December (2022) GMP Pension proposal: confirming our decision

Tue, 14 Feb 2023 00:00:00 +0000

We wrote to certain groups of eligible pensioner and dependant members of the Aon UK Section and Aon Bain Hogg Section in December to explain that:

we need to address an inequality relating to some historic Guaranteed Minimum Pension (GMP) benefits in the ARP, and
we are proposing to convert GMPs into a different form of pension – with no reduction to the current amount or expected value of pension.

December (2022) GMP consultation has ended

Wed, 01 Feb 2023 00:00:00 +0000

Our consultation with certain groups of members of the Aon UK Section and the Aon Bain Hogg Section on our proposal to convert GMPs into a different form of pension has ended. We'll confirm how we're going to proceed with another update here soon.

December (2022) GMP consultation starts

Thu, 15 Dec 2022 00:00:00 +0000

We're consulting with groups of potentially affected members on our proposal to convert GMPs into a different form of pension, which will enable us to simplify members' pensions.

See our 'GMP proposal' Q&As for details.

Consultation runs from 15 December 2022 to 31 January 2023.

We invite your feedback and will consider carefully all relevant comments we receive during this time.

See the Contacting us page for how to ask a question and/or provide any feedback.

We'll publish updates here to confirm how we're going to proceed.

Introducing our new website

Fri, 02 Sep 2022 00:00:00 +0100

We've listened to our members and have given our website a spring clean - bringing you the best of the ARP in a seamless online experience.

GMP proposal: update on timescales

Tue, 14 Jun 2022 00:00:00 +0100

For Aon UK members who received an initial letter from us about this exercise in February, we're continuing to work through the impact of the proposed change on your benefits and will provide further information in late summer. As a reminder, if your pension is affected, any change should be minimal, and we'll be supporting you with a range of communications and support.

Focusing on our members

Wed, 01 Jun 2022 00:00:00 +0100

As part of our drive to enhance your experience here at the ARP we've recently spent some time with a number of your fellow members to get their views on planned improvements to our retirement offering.

February (2022) GMP Pension proposal: confirming our decision

Mon, 11 Apr 2022 00:00:00 +0100

We wrote to eligible pensioner and dependant members of the Aon UK Section in February to explain that:

we need to address an inequality relating to some historic Guaranteed Minimum Pension (GMP) benefits in the ARP, and
we are proposing to convert GMPs into a different form of pension – with no reduction to the current amount or expected value of pension.

Also, we're carrying out this exercise in stages, so some Aon UK members, as well as members in other sections, may receive communications at different times over the next 12–18 months.

We invited your feedback on our proposal to convert GMPs, which will enable us to simplify pensions. If you'd like to remind yourself of the detail, please refer to the Summary page and/or our letter we sent you in February.

Consultation ended 31 March 2022.

Thanks to all members who got in contact during this time. Having carefully considered all feedback we received during the consultation, we've decided to proceed with our proposal.

We believe it's the most appropriate way to fulfil the legal requirement to address the historic GMP inequality and simplify members' benefits.

What happens next?

We'll carry out the appropriate benefit calculations and, if your ARP pension is affected, we'll write to you in June with full details.

Remember:

for most members, we expect any impact to be quite small. There will be no reduction to the current amount or expected value of your pension.

One-off pension option

In our February letter, we also summarised our plan to give eligible members a one-off choice over how their pension changes from late 2022. If you chose to receive an option pack with full details, you'll receive this in June when we confirm any impact to your current pension once we've addressed the historic GMP inequality and converted GMPs.

Do I need to do anything?

You don't need to do anything now but look out for your option pack coming to you in June (unless you opted out or chose not to opt in).

The latest pension pay dates

Fri, 01 Apr 2022 00:00:00 +0100

We've published the pension pay dates on the 'calendar' page for the 2022/23 tax year. If you're receiving a pension from the Plan, please remember to let us know if there is a change to your bank or building society details.

Update Spring 2022

Tue, 22 Mar 2022 00:00:00 +0000

There's a lot to catch up on with the ARP in 2022. One of the best sources of information is the Summer newsletter – Update.

2022 Member Trustee selection complete

Thu, 16 Dec 2021 00:00:00 +0000

Following our invitation for eligible members to put themselves forward for selection as member Trustees, we are pleased to confirm that both Anne Perkins and Jackie Peel have been elected from 1 January 2022.

Aon and Willis Towers Watson merger no longer happening

Sun, 17 Oct 2021 00:00:00 +0100

Aon and Willis Towers Watson have mutually agreed not to continue with their planned combination. You can read the official press release and find out more information about Aon's future plans from the company's website.

New climate change reporting requirements

Thu, 16 Sep 2021 00:00:00 +0100

The Trustees are in the process of developing the Plan's approach to climate risk management, as the Plan will need to report in line with Task Force on Climate-related Financial Disclosures from 1 October 2021.

GMP equalisation - update

Fri, 29 Jan 2021 00:00:00 +0000

In October 2018, the High Court ruled that trustees of UK pension schemes must ensure that Guaranteed Minimum Pensions (GMPs) are equalised for both males and females.

In recent developments, the High Court issued a follow-up ruling that pension transfer payments made since May 1990 also need to allow for GMP equalisation, where applicable. We're considering this latest ruling and the potential impact it may have on members who have previously transferred out. We'll be examining the ARP's historic data to identify any transfer payments that may require a top-up and we'll address this with those people individually.

Do you need to do anything?

There is no need for you to do anything. The Trustee will assess your position thoroughly in respect of GMP equalisation and write to you individually if you're affected. We're hoping to do this over the next year or so and will keep you updated with our progress.

You can find more information on GMP equalisation on our questions and answers page.

Pensioner buy-in secured

Tue, 15 Dec 2020 00:00:00 +0000

The Trustees have recently secured a 'pensioner buy-in' with Scottish Widows. This insurance policy covers the majority of pensioners and dependant members of the Aon Bain Hogg Section not already covered by a buy-in policy. The transaction has no effect on members or how pensions are paid, however it reduces the Plan's overall risk exposure, thereby making all members' benefits more secure.

For more information see the press release published on our Documents page. You can find Scottish Widows' privacy policy on their website.

Security of ARP assets

Tue, 20 Oct 2020 00:00:00 +0100

The Trustee, alongside the Plan's investment adviser, have recently completed a review of the security of assets held within the Plan. Read more . . .

RPI consultation response

Sat, 08 Aug 2020 00:00:00 +0100

The Trustee has responded to a consultation on the Reform to Retail Prices Index (RPI) Methodology. Please take a look in the 'General' documents section of Our documents library to view our response.

Legal entity name changes

Tue, 30 Jun 2020 00:00:00 +0100

From 11 June 2020 Aon has changed the name of two of its UK legal entities.

'Aon Hewitt Limited' has become 'Aon Solutions UK Limited'.
'Hewitt Risk Management Services Limited' has become 'Aon Investments Limited'.

This is purely a name change, and will not affect you or your benefits. However, some historical documents may still refer to the old names.