The Consumers' Association of Ireland has asked the Competition Authority to investigate the Irish Insurance Federation and the merger between two of the largest pension consultants.

The association believes that the IIF has not changed its "culture of consensus decision-making" since the authority's ruling earlier this year.

The association also points out that the merger of IPT/ Sedgwick and Mercers will mean that one firm accounts for between 70 and 80 per cent of pensions consultancy. It believes that part of the new operation may need to be sold to another firm.