Aon PLC, London, said it plans to contribute $385 million to its worldwide pension funds in 2014, down significantly from $523 million in 2013 and $638 million the year before that.
At its annual shareholder meeting, the firm also estimated it will contribute an average of $270 million ($1.08 billion total) to its worldwide pension funds between 2015 and 2018.
As of Dec. 31 the company had $5.4 billion in U.K. defined benefit assets with a funding ratio of 105.7%.
U.S. DB assets totaled $1.9 billion (67.6% funded) and “other” worldwide assets totaled $1.1 billion (84.7% funded).
The asset allocation for its U.K. pension funds was 60.2% fixed income, 19% equities, 10.3% cash, 10.1% alternatives and 0.4% real estate.