LONDON/BRUSSELS – 27 June 2011 – The European Commission has appointed Aon Hewitt, the global human resource consulting and outsourcing business of Aon Corporation (NYSE:AON), as expert adviser for the possible establishment of a pan-European pension fund for researchers. Aon Hewitt's appointment for this new three year project, running over the period 2011-13, came as a result of a public call for tender.
The project is part of the European Union's EU 2020 'Innovation Union' flagship initiative that includes supporting measures to remove obstacles to the mobility of researchers and cross-border co-operation. Researchers being a highly skilled and highly mobile category of workers need supplementary pension solutions that permit rather than prohibit their cross-border mobility. The project's main objective is to support and advise organisations that employ researchers in the European Economic Area and which are willing to prepare and establish a pan-European pension fund for researchers.
Aon Hewitt, as the consultant selected to work with the European Commission on this project, will both guide preparations for the fund in 2012 and then advise its first operations in 2013. The fund will not be run by the European Commission itself but by, or on behalf of, a consortium of interested employers.
In the run-up to the preparations, three workshops have been planned in 2011 for interested employers. These workshops, the second of which will take place this Wednesday, 29 June, are aimed at organisations employing researchers who have an interest and show a willingness to address supplementary pension issues. The aim of the workshops is to allow them to make an informed decision about whether or not to set up a pan-European pension fund and under which conditions. Experience will be shared on how the public and private sector employers have approached the question of cross-border pension funds for their employees.
More information about the project and the workshops can be found on the European Commission's European Research Area webpage: http://ec.europa.eu/research/era/areas/researchers/researchers_en.htm
Leonardo Sforza, head of Research Europe and EU Relations at Aon Hewitt said:
"We are honoured and delighted to help the European Commission and organisations employing researchers with a pragmatic approach that aims to facilitate the understanding and set up of a truly pan-European pension fund."
Yvan Legris, CEO of Aon Hewitt for Europe, said:
"Our long standing commitment to pioneering innovative solutions that work in the area of pensions – and in the best interest of both employers and employees - reaches new heights with this project. We are seeing a growing interest in pan-European pension funds from multinational organisations who are seeking to improve governance and manage risk.
"I am pleased that our thought leadership, practical experience, rigorousness and independence of analysis have been recognised once more by the EU policy maker through this prestigious assignment."
About Aon Hewitt
Aon Hewitt is the global leader in human capital consulting and outsourcing solutions. The company partners with organisations to solve their most complex benefits, talent and related financial challenges, and improve business performance. Aon Hewitt designs, implements, communicates and administers a wide range of human capital, retirement, investment management, health care, compensation and talent management strategies. With more than 29,000 professionals in 90 countries, Aon Hewitt makes the world a better place to work for clients and their employees. For more information on Aon Hewitt, please visit www.aonhewitt.com.
Aon Corporation (NYSE:AON) is the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital solutions and outsourcing. Through its more than 59,000 colleagues worldwide, Aon unites to deliver distinctive client value via innovative and effective risk management and workforce productivity solutions. Aon's industry-leading global resources and technical expertise are delivered locally in over 120 countries. Named the world's best broker by Euromoney magazine's 2008, 2009 and 2010 Insurance Survey, Aon also ranked highest on Business Insurance's listing of the world'sinsurance brokersbased on commercial retail, wholesale, reinsurance and personal lines brokerage revenues in 2008 and 2009.A.M. Bestdeemed Aon the number one insurance broker based on revenues in 2007, 2008 and 2009, and Aon was voted best insurance intermediary 2007-2010, best reinsurance intermediary 2006-2010, best captives manager 2009-2010, and bestemployee benefitsconsulting firm 2007-2009 by the readers of Business Insurance.
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Om Aon Sweden
Aon Sweden är Sveriges ledande leverantör av risk managementtjänster, försäkrings- och återförsäkringsförmedling, human resources-lösningar och outsourcing. Aon Sweden har ett starkt lokalt engagemang för sina kunder och ett globalt utbud av expertis och resurser. Verksamheten etablerades 1992 och idag har Aon Sweden cirka 250 anställda i Stockholm, Göteborg och Malmö. Gå in på www.aon.com/sweden/ för mer information.