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 said:...
As the government's review into AE kicks off, how should the policy progress post-staging? James Phillips explores the industry view
David Brooks says consolidation is not the only option for DB schemes
This week's top stories include a Treasury letter confirming no changes to pensions tax relief in the near future, and Frank Field questioning the level of benefits promised to BHS members.
Catherine Howarth looks at what issues the auto-enrolment consultation should focus on