UK - Aon Consulting has appointed Aquila to supply its new software platform for pensions administration in a 10 million-pound (14.5 million-euro) deal.

The move follows a review that was begun in February this year.

"We've worked very diligently over the past eight months to identify the most effective pension system to drive our business forward,” said Andrew Binns, Aon’s managing director of HR Services.

“We have selected a technology platform that will enable us to meet the current and future demands of our clients and shareholders.”

"We also feel that the new pension system will give our employees the most effective tools they need to deliver the level of service that our clients both deserve and have been accustomed to.

“Aquila's 'administrator' is the best application available in the market and puts clear blue water between Aon Consulting and our nearest competitors."

Aquila joint chief executive David Ackroyd added: "Aon Consulting was looking for the pension administration system that would allow them to continue to offer the high level of service that helps differentiate Third Party Administrators in an increasingly technologically driven industry.

He added the contract is worth “in excess of 10 million pounds”.

Aon added that it has appointed Deerfield, run by former Profund founder Blaise Prideaux, to support its existing clients. This follows a review of its existing Profund system following the company’s takeover by Jardine Lloyd Thompson.