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Demand for Mercer's pick and mix pension solution grows

28 November 2012

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Mercer's pensions and savings solution, Mercer Workplace Savings (MWS), now has £2.2bn worth of committed assets under management after being awarded contracts to provide over 50 clients with its product.

Mercer said in a statement that the product's success reflects an increasing focus by employers and trustees on pension scheme governance in light of auto-enrolment and to meet regulator targets.

Some users are looking to offer savings plans to their employers as an alternative or supplement to pensions, added Mercer.

"We are delighted with the response to MWS," said Emma Douglas, head of Mercer's MWS division. She added: "Increasingly, employers are recognising the need to boost member outcomes and are hungry for more flexibility in meeting employees' wider savings needs; MWS delivers a full selection box."

MWS was launched in February 2011. The product enables employers and trustees to pick and mix between a range of elements, including investment only and bundled trust-based plans, to suit their requirements.

Greeting cards manufacturer UK Greetings Limited chose to work with MWS earlier this year. Brian Capps, group human resources director, said: "We needed a new pension provider and the MWS solution was able to deliver a complete package, from provider selection through to ongoing investment and operational governance.

"We liked the fact that the governance services were built into the MWS framework, and the fact that the MWS services are flexible enough to cope with the changing DC and wider savings environment."

First published 28.11.2012