Europe Faces up to a Longer Wait Until Retirement

LONDON and ROTTERDAM, The Netherlands, June 17, 2010 - More than half (55%) of Europeans believe they will have to delay their
retirement because of the current economic climate, according to Aon
Consulting, the leading employee risk and benefits management firm. French
and German workers are the most pessimistic, with 74% and 73% thinking about
extending their working careers respectively, followed by the Irish (65%),
the Swiss (67%) and the British (60%).

Of those who believe the economic situation will force them to delay
retirement, the Irish and the British have the most gloomy outlook with
nearly 90% and more than 80% of workers respectively saying they think they
will have to delay retirement by over two years.

This research is part of the Aon Consulting European Employee Benefits
Benchmark, a survey of more than 7,500 workers from across Belgium, Denmark,
France, Germany, Ireland, The Netherlands, Norway, Spain, Switzerland and the
UK, ten of the leading economies in Europe. The Benchmark focuses on the
views of workers across Europe on topics such as retirement, employee
benefits and other pension-related issues.

Previous results from the Benchmark revealed just how averse to working
longer Europeans are, with nearly one in three (29%) European workers stating
they would rather retire earlier and receive less income in retirement than
have their government extend the minimum retirement age in their country.

Right across the region, except in Ireland, females are more likely than
their male colleagues to claim they will have to delay retirement. In many
cases, this could be attributed to the fact that women are more likely to
have lower pensions as a result of either spending less time in the workforce
or having a part-time job. The effect of the financial crisis becomes even
more pronounced in this type of situation.

Oliver Rowlands, head of retirement, Europe Middle East and Africa, at
Aon Consulting commented: "Recent events have shown the value of defined
contribution pension funds can go down sharply in a recession, which has come
as a shock to many people used to gold-plated defined benefit pensions and
generous state benefits. As responsibility for retirement savings has moved
from the state and corporations to the individual, people are increasingly
realising they need to take an active interest and take steps, such as
delaying retirement, to make sure they are financially secure in retirement.

"For those aged 40 or younger, pensions may not be top-of-mind, however
now is the time to begin setting up a savings plan, particularly as the end
of defined benefit pension schemes is increasingly a reality. Those closer to
retirement should seek advice based on their personal circumstances and may
want to consider moving their retirement investments out of riskier
investments in to lower risk investments which will offer greater protection
in the period to retirement. Finally, for those on the verge of retirement,
many will seek to convert their retirement savings to an annuity, which pays
them an annual income. The price of annuities can shift from day to day and
vary significantly depending on the provider, so shopping around is a must,
in order to get the most out of a lifetime's worth of saving."

Please visit aon.mediaroom.com/index.php?s=43&item=1946 to read
the survey responses.

Notes to Editors

About Aon Consulting

Aon Consulting is among the top global human capital consulting firms,
with more than 6,300 professionals in 229 offices worldwide. The firm works
with organizations to improve business performance and shape the workplace of
the future through employee benefits, talent management and rewards
strategies and solutions. Aon Consulting was named the best employee benefit
consulting firm by the readers of Business Insurance magazine in 2006, 2007,
2008 and 2009. For more information on Aon Consulting, please visit
www.aon.com/human-capital-consulting.

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Aon Consulting is authorised and regulated by the Financial Services
Authority.

    For more information please contact:

    Bartjan Willenborg
    Director of Marketing EMEA
    +31-0(10)448-7423
    Bartjan_willenborg@aon.nl

    David Skapinker
    PR Manager, Aon
    +44(0)20-7505-7478
    David.skapinker@aon.co.uk

For more information please contact: Bartjan Willenborg, Director of Marketing EMEA, +31-0(10)448-7423, Bartjan_willenborg at aon.nl; David Skapinker, PR Manager, Aon, +44(0)20-7505-7478, David.skapinker at aon.co.uk