Management Consulting

Aon provided comprehensive support to the Honda Group UK Pension Scheme during its buy-in transaction with Legal & General, which involved a pension scheme with assets of approximately £800 million and 4,700 members. The specific challenge faced by the Honda Group was the need to de-risk the pension scheme effectively while ensuring the security and experience of its members were maintained throughout the transition. To address these challenges, Aon delivered tailored solutions that included administration, governance, and covenant support. They utilized an innovative funding structure that allowed the Trustee to accelerate the de-risking process. Aon's approach involved a thorough assessment framework focused on capital, covenant, and control, which helped identify the strengths and weaknesses of the scheme's security prior to the insurance buy-in. The results of Aon's involvement were significant. The collaboration between the scheme’s trustees, Honda, and Aon’s governance and administration teams ensured a smooth and well-governed process. This strategic alignment and robust data management facilitated a successful transition, enhancing the security of members' pensions and improving their overall service experience. The Trustee expressed appreciation for Aon's invaluable support, highlighting its crucial role in achieving this milestone for the members of the Honda Group UK Pension Scheme.