UK - Mercer Human Resource Consulting has attacked the government for "years of interference" which has left employers facing a £300bn bill for pension obligations.
The consultant said government interventions had increased the obligations of schemes towards their members which had increased employers’ costs.
Mercer European partner Tim Keogh said: “The extra funding needed to secure existing benefits fully, with all the bells and whistles, could now be as much as £300bn.
“Clearly, it is not viable to expect employers to carry this huge burden of cost. It would destroy the competitiveness of British business.”
He said the government should legislate for member security but on a “realistic level of promise” which firms could deliver to scheme members.
Standard Life has increased exposure to risk assets in three out of five funds in its Active Plus and Passive Plus workplace pension ranges.
Some 48% of employers are unaware of the services or help they offer to members of their defined contribution (DC) schemes, according to Aon.
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