Mercer offers Pensions Regulator clarity tips.(Mercer Human resource Consulting)(Brief Article)

Financial Adviser, May, 2005

THE Pensions Regulator needs to be more specific in its code of practice to ensure employers pay more into their schemes, according to Mercer.

Mercer Human Resource Consulting has responded to a government consultation on new pension scheme funding, to replace the minimum funding requirement.

While Mercer was supportive of the principles behind the proposals, the lack of detail in the code of practice, and emphasis on process over substance, means scheme members would not be given the level of benefit security the new Pensions Regulator is aiming for.

Deborah Cooper, European partner for Mercer, said words used in the code of practice such as "prudence" and "margins" would fail to ensure that the regulator achieved its aim of getting...

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