UK defined contribution schemes should stop focusing on outperforming markets and start building "next generation" schemes designed around delivering retirement incomes, a Nobel prizewinning economist says.
Professor Robert C. Merton said the focus on outperforming portfolio values and targeted values was skewing the design of schemes away from focusing on member retirement needs. Professor Merton...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date