A 35-year-old joining a defined contribution fund today could have to contribute more than ten times the amount of his colleague in a defined benefit scheme to get the same outcome.
That statistic, from Pension Corporation, equates to 55% of gross salary for the DC member – which last year, for someone on average wages was £14,000. However, the DB member would have to put just...
To continue reading this article...
Join Professional Pensions
Signup and gain exclusive members-only insights
- 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
