Financial Services Industry
Industry: Email Alert RSS FeedNews: DC governance burden will lead to reassessment.
Pensions Week, November, 2007
Byline: James Thomas
Consultants are predicting a widespread reassessment of defined contribution (DC) schemes in the face of a growing governance burden.
Research by Mercer confirmed that globally, workplace pensions are now predominantly provided through DC or hybrid schemes, but the firm anticipated a general reappraisal of such arrangements as regulatory costs increase.
Deborah Cooper, principal in Mercer's London office, explained: "Increased reliance on DC arrangements will lead to more government intervention. This will in turn increase costs."
Cooper said that from looking at the experience in the US and Australia, which have far more developed DC markets than in the UK, the more money invested into a particular arrangement,...
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