Welcome to this first issue of Foresight for 2009.

The world is now gripped in its first serious recession since we entered into the global age. As the UK Prime Minister, Gordon Brown, recently admitted, there is no precedent to deal with the gravity of this downturn. That's why Mercer is showing the way with its bold campaign Leading through Unprecedented Times, guiding clients through this unchartered territory and helping them to keep momentum.

For example, today's volatile market is shaking the very core of pension funds and challenging us to rethink our ideas about caring for an ageing society. This warning is highlighted in Mercer's latest Global SnapShot Survey of more than 1,000 HR and finance professionals from more than 100 countries.

Mercer is ready to help its clients through these turbulent times, and on page 5, we listen to the concerns of three HR and finance professionals and come up with some real solutions and advice for them.

This issue contains further invaluable counsel on why employee benefits are more vital than ever in a downturn and useful updates on the Government's personal accounts and the looming deadline for pension protection.

Keeping lines of communication open is vital in these challenging times. Please don't hesitate to contact your consultant to discuss any of the issues in this publication, or e-mail foresight@mercer.com

This newsletter is for general guidance only and represents our understanding of law and HM Revenue & Customs practice as at February 2009.
 
Whilst every care has been taken to ensure the accuracy of editorial content, no responsibility can be taken for errors or omissions, or for actions taken or not taken as a result of any statement in this document. You should also be aware that the law in parts of the United Kingdom may vary from that stated.
 
Mercer Limited is authorised and regulated by the Financial Services Authority. Registered in England No. 984275. Registered Office: 1 Tower Place West, Tower Place, London EC3R 5BU.  Mercer Employee Benefits refers to Mercer Employee Benefits Limited, which is authorised and regulated by the Financial Services Authority.