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Mercer calls for Government to own up on cost of stakeholder

Consultant William M Mercer has hit out at the stakeholder green paper warning that the inevitable result will be increased costs.


It says that more information is required on costs and wants the Government to come clean over where the additional financial burden will fall.


The consultant says that the cost of the pension will have to be met by either reducing state pensions, increasing the state pension age, raising taxes or increasing employer costs.


The consultancy is also calling for more information in three other areas.


It wants a clarification of the role of ISAs, how SERPS and contracting out will be affected in the short term and on the design of the schemes.


It also warns that stakeholder may be setting up two classes of schemes.

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