Mercer says pensions crisis about to get "real"

The crisis unleashed by the shift away from DB to DC schemes is on the verge of becoming reality according to consultant Mercer, which says in a new report that legislation next year will for the first time bring home to all workers the actual shortfall in their pension provisions. Until now many have been oblivious to the actual amount of money needed to retire comfortably, mainly because of the lack of information - but that is going to change. The problem is stark: UK Employer contributions to DC plans average just 6% of salary, Mercer's figures show, which is just half the...