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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


F&C Pacific Investment Trust appoints non-executive director

Foreign & Colonial Pacific Investment Trust has appointed Kevin Jones as an independent non-executive director.Jones is a former principal with McKinsey & Co Tokyo. He also has had extensive dealings with Western and indigenous companies in the Far East.

Mortgage 2000 calls for apr to be scrapped

Mortgage 2000 is calling on the industry to abolish the use of annual percentage rate as a method of product comparisons.Director Simon Nixon says the industry would give better service to the consumer by providing true cost comparisons that took into account all costs associated with a mortgage.He says: &#34It has been plain to see […]


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