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Prepared by Thierry Verkest and Jacqueline Lamont Presentation to RESAVER Consortium Technical support for the setting up of RESAVER Summary of support.

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Presentation on theme: "Prepared by Thierry Verkest and Jacqueline Lamont Presentation to RESAVER Consortium Technical support for the setting up of RESAVER Summary of support."— Presentation transcript:

1 Prepared by Thierry Verkest and Jacqueline Lamont Presentation to RESAVER Consortium Technical support for the setting up of RESAVER Summary of support to be provided by Aon Hewitt over the next four years 17 th December 2014, Brussels

2 2 Aon Hewitt 12 December 2014 Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority. Scope of work  Module I – IORP (2 nd pillar)  Module II – country-specific insurance arrangement (2 nd pillar)  Module III – Insurance arrangement (risk-pooling) for risk benefits (i.e. death)  Module IV – Member Service Centre (MSC)  Module V – Communication  Additional tasks  Deliverables

3 3 Aon Hewitt 12 December 2014 Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority. Module I – IORP (2 nd pillar)  Identify home member state –Review prior reports –Meet with 2 or 4 regulators to discuss project plan –Provide short report with recommendation  Draft roll out plan for 2015 – 2018: –Identify need and demand by designing a survey (available on RESAVER website), closing date to be agreed with Consortium –Develop estimate of number of organisations that will join  Create template structure for Country Subcommittees within the Consortium  Develop draft set of pension rules for RESAVER (IORP and Insurance) –Single master template –Share with country subcommittees for feedback –As new countries join, populate template with country specific information (ensuring compliance with local SLL)  Defining and drafting the enrolment procedure for the IORP

4 4 Aon Hewitt 12 December 2014 Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority. Module I – IORP (2 nd pillar) continued  Draft standard member literature –Member booklet –Member election forms –Investment options  Governance and operational structure of IORP –Include technical support in selecting providers (accountant, compliance officer, external auditor, internal auditor, legal adviser, actuarial adviser, administration provider, investment manager, annuity provider, reinsurance provider, depositary (custodian)  Selecting an investment manager –Design investment policy (core + country specific) –Launch RFI –Implementation  Register IORP and obtain authorisation to operate cross-border  Enrol additional countries

5 5 Aon Hewitt 12 December 2014 Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority. Modules II & III – Country specific insurance arrangement (2 nd pillar and 3 rd pillar retirement & risk benefits)  Selecting country specific insurance arrangement for 2 nd pillar, 3 rd pillar and risk benefits –Estimate RESAVER Insurance size –Long-list of providers –Issue and score ROI –Issue and score RFP –Provider presentations and selection

6 6 Aon Hewitt 12 December 2014 Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority. Module IV – Member Service Centre  Selecting an Member Service Centre –Estimate RESAVER size –Long-list of providers –Issue and score ROI –Issue and score RFP –Provider presentations and selection

7 7 Aon Hewitt 12 December 2014 Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority. Module V - Communication  Visual identity  The contact point – address –Phone number  Maintain mailing lists  The project website  Publications –12 country-specific publications on the IORP (c.20 pages) –4 reports on the country specific insurance arrangement –4 reports on the employer consortium –Additional publications e.g. general information brochures (c.10 pages), on average 2 per year –Quarterly electronic newsletter –Project promotional tools e.g. four 12 page A5 leaflet, two A4 brochure

8 8 Aon Hewitt 12 December 2014 Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority. Module V - Communication continued  Events, meetings and workshops GroupParticipantsFrequency of meetings/year Employer Consortium Assembly IORP Board of Directors104 Committee meetings (if required)104 Country committee meetings304 Ad-hoc meetings with employers and other stakeholders 106 Advisory group meetings4-66

9 9 Aon Hewitt 12 December 2014 Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority. Additional tasks  Inclusion of additional countries in the IORP  Translation of the website and publications into other languages  Production of audio visual material

10 10 Aon Hewitt 12 December 2014 Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority. Deliverables  Quarterly technical report (c.30 pages) –Covering tasks completed in the quarter  Annual report (c.60 pages) –Merged with 4 th quarterly report  Annual Work Plan –Set out services that will be accomplished quarterly

11 11 Aon Hewitt 12 December 2014 Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority. Next steps  Contract has been signed  European Commission to send us a request for services for 2015 soon and then we have 10 working days to reply with our price schedule (consistent with schedule we include in our response to tender)

12 12 Aon Hewitt 12 December 2014 Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority. Copyright © 2014 Aon Hewitt Limited. All rights reserved. Aon Hewitt Limited, 8 Devonshire Square London EC2M 4PL Registered in England & Wales No To protect the confidential and proprietary information included in this material, it may not be disclosed or provided to any third parties without the prior written consent of Aon Hewitt Limited. Aon Hewitt Limited does not accept or assume any responsibility for any consequences arising from any person, other than the intended recipient, using or relying on this material. Aon Hewitt Limited is authorised and regulated by the Financial Conduct Authority.


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