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Aon retains €3.4bn Philips fund admin brief

UK – Aon Consulting have retained the mandate to provide administration services to the €3.4bn Philips Pension Fund, the UK pension fund of major Dutch global electronics firm, Philips Electronics.

The reappointment, which will continue to be administered out of Aon’s Croydon and Farnborough offices, covers both the defined (DB) and defined contribution (DC) elements of the scheme, which have over 43,000 members, including 5,000 active members and nearly 20,000 pensioners.

Says Alan Stone, pension fund manager at Philips: “We have re-appointed Aon Consulting because of the depth of resource they have applied to meet the needs of the DB section of the pension fund and we were particularly impressed by the web based administration capability that will be initially implemented for the DC section.”

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