LONDON, 3 September 2019 – Willis Towers Watson is delighted to announce that it is has added another client to its OneDB service which launched in June last year. The Trustees and Sponsoring Employer of the Beam UK Pension Plan have appointed Willis Towers Watson to provide actuarial, fiduciary management, consulting and administrative pension services through OneDB. The Beam UK Pension Plan has assets of around £50 million and around 100 members and is sponsored by Beam Suntory UK Holdings Limited.
Ron Welsh, Chair of Trustees, said “Willis Towers Watson has provided an excellent actuarial service for a number of years and were a natural choice for us when looking for a bundled services provider. We were particularly impressed by Willis Towers Watson’s ability to provide a joined up solution enabling us to outsource more elements than under our previous advisory structure, as well as by the quality of its Administration and Fiduciary Management offering”.
Gareth Strange, Head of OneDB, Willis Towers Watson, said “There has been significant interest in our OneDB proposition since we launched last year and we are delighted to now have seven schemes utilising our new solution”.
“For many corporate sponsors and scheme trustees the burden of managing legacy DB pension schemes is becoming more and more challenging as the regulatory environment, investment options and administration becomes more complex. OneDB outsources a lot of that burden, freeing up trustees’ time to enable them to focus on the strategic objectives of the scheme.”
OneDB is an all-in-one solution for DB pension schemes, which provides outsourced administration, actuarial, investment and consultancy services, while allowing trustees and sponsors to retain full strategic control of their scheme. In its first year OneDB has signed seven clients, for either full or partial services, covering over 6,000 members and over £900m of assets.
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas – the dynamic formula that drives business performance. Together, we unlock potential.
