Aon Hewitt launches auto-enrolment product

Aon Hewitt has launched its auto-enrolment product, A to Z.

It selected insurer Zurich as the pensions provider for A to Z.

The product, which has been developed for organisations that are implementing auto-enrolment in 2014, has a flat annual management charge of 0.5% for all members if they use Zurich’s default fund.

The features of A to Z include:

  • A range of funds with a standard default investment option.
  • A choice of four contribution structures.
  • Online set-up, with online training support and manuals for employers.
  • Online employee assessment, enrolment, contribution management and administration.
  • Engaging member communications and online member services.
  • An optional group life product for the auto-enrolled population, with simple terms and cover.

Debbie Falvey (pictured), defined contribution proposition leader at Aon Hewitt, said: “While the UK’s largest organisations have now passed their staging date for implementing auto-enrolment, for numerous small to medium-sized organisations the task lies ahead.

“In the next year, these employers will be approaching their staging dates, but without the resources and in-house knowledge possessed by many of the larger organisations that have already staged.  

“A to Z is designed to give these organisations the means to auto-enrol their employees onto a sound pension platform and at an economical cost.”

Stephen Lefley, head of corporate distribution at Zurich Corporate Savings, added: “We are really looking forward to working with Aon Hewitt as the pension and risk provider for A to Z.

“We have been seeking ways to extend an appropriate streamlined offering to a broader employer audience alongside our existing proposition.

“The Aon Hewitt initiative gave us the opportunity to refine our thinking and, through bulk pricing and streamlined front-end procedures, we can fulfil our ambition.”