Management Consulting
Aon
Full Credential Description
Aon Employee Benefits launched Bigblue Touch 4life, a comprehensive online retirement planning platform aimed at addressing the challenges faced by pension scheme trustees in providing members with access to pension freedoms, particularly drawdown options. Many trustees were struggling with how to offer these options without leaving members to navigate the retail market alone. Bigblue Touch 4life serves as a tailored solution that consolidates all pension and financial information onto a single platform, utilizing Aons proprietary financial aggregation tool, Money. The platform includes extensive pension modeling tools and educational resources, enabling members to explore various retirement finance scenarios and transact online. Key features of Bigblue Touch 4life include access to an annuity broking service, allowing members to compare prices and select the best annuity provider for their needs. Additionally, it offers a range of investment funds and strategies managed by Aon Hewitts global investment team, providing members with investment oversight at a low cost. Members can also choose from a wider selection of carefully researched investment funds for those who prefer to make active investment choices, as well as options for cash withdrawal and flexible income drawdown. The introduction of Bigblue Touch 4life has empowered members to make informed decisions about their retirement savings, a significant improvement over previous limitations. Aons research indicates that nearly two-thirds of large pension schemes are considering how to assist members with drawdown solutions, highlighting the importance of providing structured support for successful retirement transitions. This service not only enhances investment options but also alleviates the risks associated with navigating retirement income decisions, ultimately giving trustees, employers, and members the confidence needed for a successful retirement.