Durham University taps Mercer as provider of DC plan

Durham University, Durham, England, hired Mercer to provide a defined contribution plan for its automatic-enrollment program, a spokeswoman said.

Mercer replaces Now: Pensions, the spokeswoman said.

Employers in the U.K. have been required to provide qualifying employees with a retirement plan in phased stages since the introduction of auto enrollment in October 2012. The plan, which the spokeswoman said records about 15,000 ($18,726) per month in contributions, is in addition to the defined benefit plans provided to other qualifying employees.

The university launched a search in September.