Aon Hewitt partners with BlackRock in pensions management move

The new service for defined contribution pensions will be similar to the fiduciary management services offered to old final-salary schemes

Investment consultancy Aon Hewitt is planning to push further into directly managing pension schemes through a tie-up with BlackRock targeting defined contribution plans, which are now offered by most UK companies.

Aon Hewitt's advisers will design and manage a series of "target-date" funds for pension scheme members, with BlackRock providing the underlying investment building blocks such as equity and bond funds.

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