Defined Contribution

SWEDEN - The default investment option for Swedish investors will now be lifecycle funds, after a government directive mandated that individuals' assets should de-risk as they age, confirmed Richard Grottheim, executive vice president at AP7.

Pensions minister Angela Eagle believes the industry criticises personal accounts too much.

German industrial insurer HDI-Gerling has hired Friends Provident to provide a group stakeholder scheme for its UK staff.

There will be an ongoing process of automatic re-enrolment into personal accounts, pensions minister Angela Eagle says.

Richard Lowe discusses the sustainability and appropriateness of defined contribution as a suitable replacement for defined benefit

Workers have been urged to start saving as soon as possible for their retirement in order to avoid unaffordable levels.

The Association of Independent Financial Advisers has issued a stark warning to the Financial Services Authority over the "unintended consequences" of applying proposals in the RDR to the corporate pensions market.

Scheme managers are split over whether the retirement age should be increased to 70.

UK - Reforms introducing auto-enrolment, employer duties and personal accounts will be staged in over a three year period from 2012, the department for work and pensions said.

Most employees expect to delay their retirement as a result of the recession, Aon Consulting research reveals.