Defined contribution roundtable
The pensions savings market is changing. More and more defined benefit (DB) schemes are closed to new members while the introduction of auto enrolment has seen 10 million more UK workers, many of whom are under the age of 30, join a defined contribution (DC) scheme in the past eight years.
This has seen the assets under management in the world’s six largest DC markets grow 8.4% in the past 10 years – double the rate of those entrusted to DB managers.
With the government and companies sharing a desire to stop being responsible for funding people throughout their retirement, DC, or a hybrid of it, has been pushed centre stage.
To discuss these issues, portfolio institutional hosted an online group debate with asset owners, investment managers, the regulator, consultants and a pensions policy specialist.