Far too little is being saved in defined contribution pension plans to provide a decent income in r...
Far too little is being saved in defined contribution pension plans to provide a decent income in retirement, accord- ing to research from pension consultants Mercer. The company has published a survey of over 450 employer-sponsored schemes, many of them newly established, showing that employer contributions average just 6% of salary, marginally down from 6.3% in a previous survey two years ago. Average employee contributions are 3.3%, producing a total contribution of just 9.3% of members' annual salary. Tony Pugh, European partner at Mercer Human Resource Consulting, said: 'Contr...
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