We currently have 2 branches:
/repo/branch/current_version
/repo/branch/next_version
current_version is a branch where all dev
No, you haven't missed anything. This is a big problem with using SVN for version control.
I ran into it over and over again at my last job. Every time somebody committed something to current_branch (to stick with your terminology), the commit message would have to be copied manually so it could be used in the merge commit message. This quickly became a huge pain.
That's why new version control software has come out with better merging capabilities (Git, Mercurial, and Bazaar come to mind).
EDIT: Apparently SVN has fixed this issue. SVN 1.5 and up incorporate merge-sensitive logs and annotations. Use the flag --use-merge-history (-g) with svn merge and svn blame to see the commit messages from the merged branch.