On Aon — Episode 113 Title: Delivering Better Retirement Outcomes Through Scale and Strategy In this Human Capital Insight episode of the On Aon podcast, Aon’s Human Capital leaders outline how employers are taking a more active role in shaping retirement outcomes. As defined contribution plans become the primary source of retirement income globally, the focus is shifting towards strategies that deliver measurable improvement at scale. The conversation highlights how pooled and multi-employer solutions are redefining what leadership looks like in workforce retirement planning — combining institutional investment access with disciplined governance and plan design to help organizations move ahead with clarity and confidence. Rather than adding cost, leading organizations are sharpening strategy — using scale, insight and engagement to strengthen outcomes and support long-term financial wellbeing in retirement. Key Takeaways: Scale is becoming a defining advantage, with pooled and multi‑employer models enabling organizations to elevate outcomes through stronger governance, specialized expertise and more efficient plan design — freeing leaders to focus on strategic priorities. Disciplined investment strategy is central to performance, with broader asset access, lower costs and exposure to areas such as private markets supporting more resilient, long‑term return potential. Engagement is shifting from information to action, with leading plans using targeted, digitally enabled strategies to drive better decisions across different employee needs and life stages — strengthening outcomes over time. Experts in this episode: Byron Beebe, CEO for Human Capital, Aon Helen Hatt, Partner, International Wealth, Aon Nigel Aston, Market Development Lead, Wealth Solutions, Aon Brian Abshire, Partner, Head of DC Multi-Asset Solutions, Aon Key resources: Employee Sentiment Study Human Capital Trends Study Key moments: (02:45) How leaders are redesigning retirement strategies to deliver stronger, more consistent outcomes (07:45) The role of scale and investment strategy in delivering stronger long term retirement portfolios and reducing costs. (14:15) Why private markets are becoming an increasingly important component of DC plans and how they can enhance returns. Soundbites: Byron Beebe: “Most people know that defined benefit plans used to be the main source of retirement income for employees around the world. And that's really changed quite a lot. Really, defined contribution plans are the main source of retirement income for employees around the world these days. And that means more of the responsibility for retirement savings is being pushed to the employees.” Helen Hatt: “Employers aren't necessarily wanting to throw more money at these plans to get better retirement outcomes. They just want the plans themselves to work in a better way. ” Nigel Aston: “But the two core elements which will give people better outcomes are these. And this is what employers are looking for. The first is to give members more money. That's down to investment. And then the second is to help those employees, the participants in the plan, make good decisions with that money.” Brian Abshire: “Specifically, to private markets, it's become polarized that we just want to get access to this because it's going to be a unique thing that sounds different or maybe it costs more and generates more revenue from investment managers. And I think it's incumbent upon us as an industry. To really pound the table and say, it's not access for access’ sake, it's access because it moves the needle and it truly gives a diversified return enhancing potential.”