Mercer has created a new defined contribution (DC) pension and workplace savings division.
The consultancy has also appointed Brian Henderson (pictured) as UK leader for the division. Henderson has been a partner at Mercer since 2008, most recently as DC leader for investments in the UK. He has also been a member of Mercer’s European and global DC leadership teams.
He said: “Our DC proposition is relatively simple; everything we do is focused on enabling better member outcomes.
“Putting members at the heart of what we do will help keep us firmly grounded when developing our latest thinking. Our new DC group brings together specialists from Mercer’s retirement, investment and employee health and benefits businesses.
“Mercer estimates that DC assets will double over the next five years. The role of DC pensions and wider savings will rise in importance for employers developing their broader benefits strategy. The new DC team positions Mercer to better advise employers of all sizes in this respect.”
Fiona Dunsire, UK chief executive at Mercer, added: “The DC market is growing rapidly. Auto-enrolment legislation is bringing a large number of new savers into the pension system and we continue to see organisations move away from DB in favour of DC plans.
“This change creates new challenges for [employers]. The creation of this new group will support [employers] by bringing together Mercer expertise in benefits, savings, contract and trust-based DC consulting and implementation.”