Management Consulting

The University of Exeter faced the challenge of needing a more integrated approach to investment and actuarial advice for its closed defined benefit pension scheme, the University of Exeter Retirement Benefits Scheme (ERBS). This scheme, which has been in operation since 1999, serves over 3,000 deferred and pensioner members and manages assets of approximately £140 million. The trustees recognized that as they worked towards their long-term objectives, the connection between investment and actuarial advice needed to be strengthened. To address this issue, the University appointed Aon as its investment adviser, extending their existing relationship where Aon had served as the scheme actuary. This decision was influenced by Aon's demonstrated understanding of the university's needs and their collaborative approach over the years. Aon’s team, led by senior investment consultant Charlie Iversen, is now positioned to provide integrated investment and funding advice, which is expected to enhance the scheme's performance and help the trustees achieve their long-term goals. The partnership aims to leverage Aon's expertise in both investment and actuarial services, ensuring that the trustees receive comprehensive support tailored to the unique challenges of managing a defined benefit pension scheme in today's environment. This integrated approach is anticipated to drive better outcomes for the ERBS, aligning investment strategies with the scheme's funding objectives.