Employers defy recession with DC contribution increases

Companies have continued to increase contributions to DC schemes despite the recession, a survey by Mercer reveals. The consultant's research of the defined contribution pension offerings of 345 companies - representing 1.2 million members and £10bn in assets under management - showed that average employer contributions have increased from 6.80% to 7.25% since 2007. And it said there was evidence employees are also placing a greater emphasis on saving for retirement - with employee contributions rising from 3.60% to 4.65% in the past two years. Mercer UK head of defined contributio...