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Contact: Press Office
Tel: +44 20 7178 3513

UK
London, 8 May 2008

Mercer is holding a series of breakfast forums to address the challenges employers face when operating contract-based* defined contribution pension plans. The first event will be held on 16 May 2008 at Mercer’s offices at Tower Place, EC3R 5BU, London, with further dates confirmed for June and September across the UK.

Roger Breeden, principal at Mercer, commented: “In a trust-based environment the trustees are under a fiduciary duty to act in the members’ best interest, to monitor investment performance and communications, and to ensure pension provisions are well administered. In a contract-based setting, no single entity holds an equivalent position, leading to a potential governance gap.

“It is vital for employers to understand the value of operating best practice governance in contract-based pension schemes and the potential impact on their business and employees.”

The one and a half hour session will offer insights into:

• The risks and responsibilities for employers and how these can be addressed effectively
• The Pension Regulator’s guidelines and views on contract-based governance
• The value of operating best practice governance
• A practical guide to the introduction of a governance framework

Further dates and venues:

5 June 2008 – Solihull
12 June 2008 – Brentwood 
2 September 2008 – London
17 September 2008 – Manchester
18 September 2008 – Milton Keynes
23 September 2008 – Glasgow
24 September 2008 – Bristol
30 September 2008 – Reading
 
The event starts at 8:30am with registration and breakfast refreshments. The presentations will run for 1 hr, followed by a 20min Q&A session. Further information about the seminar, including registration details, is available online at www.uk.mercer.com/governancegap

The event is free and places are offered at a first come first serve basis.

Notes for Editors

*There are three types of work place contract-based schemes:
– group personal pensions (GPPs)
– group stakeholder pensions
– group self invested personal pensions (SIPPs)

Background to this event
On 31 January 2008, The Pensions Regulator (TPR) released a guide setting out assistance for employers who voluntarily engage in the monitoring of contract-based pension provisions.
 

Download a full copy of this guide 

The guide highlights some of the key benefits to employers who actively engage in defining their role in the ongoing involvement in their scheme, including: 

• Increased understanding of the scheme, resulting in prevention of problems that could be costly to put right.
• Mitigation against the risk that the scheme is perceived as poor quality and negative impact on recruitment and retention of staff.
• Improved member appreciation of, and confidence in, the pension offered and often as a result improved take-up rates.
• Better control of service issues such as investment performance and provider service standards.

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Contact: Press Office
Tel: +44 20 7178 3513