UK - The National Health Service has appointed Mercer Human Resource Consulting to review pension arrangements.
Mercer has been hired to review the 997,000 member NHS Pension Scheme to ensure it meets the needs of staff.
Mercer will work with the NHS Confederation, which represents the organisations making up the NHS and is leading the study, to produce a survey which will explore in detail the views of staff on retirement and pensions issues.
The survey will be sent out to a representative sample of the workforce.Mercer European principal David Tong (pictured) said the win was based on the consultant’s “extensive pensions and research experience”.
The review – launched in August last year and due for completion by September – is expected to recommend the implementation of a new final salary scheme.
The NHS said the review was prompted by:
The need to modernise pension provision to include allowances such as survivor benefits for same sex partners.
Inland Revenue proposals allowing people to claim benefits but continue employment.
The government’s policy of moving the retirement age from 60 to 65.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.