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Mercer warns that state second pension will force redesign of company schemes

William M Mercer says that employers will have to redesign their company pension schemes if the Government&#39s state second pension scheme goes ahead.


The pension consultant and IFA says the second scheme will deliver higher benefits to lower earners and force companies to revamp occupational schemes to make them more attractive.


Senior consultant Harvie Brown says: &#34In future many companies will have to make special pension arrangements for employees earning less than around £8,000 a year.


&#34One approach could be to restructure restructure their occupational pension schemes to improve the benefits for this group. The downside is the administrative complexity that will result.&#34

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