UK - The DC solutions market should prepare for a major shake-up this year, according to Hewitt Bacon & Woodrow.
Principal consultant Lee Jagger said traditional providers are ready to pull out of the DC market and refocus resources on other business areas, including merger activity.
Mercer Human Resource Consulting European agreed the market has dried up for tailored solutions and fund managers are about to take advantage of this trend.
Partner Kevin Stratford said: “Fund managers that have recognised the potential of bundled services have come into the market to pick up this type of business.”
The top stories this week were the High Court's decision to block the £12bn annuity transfer from Prudential to Rothesay Life, and a separate court ruling that 'raises the bar' for pension rectification exercises.
Guaranteed minimum pension (GMP) equalisation has soared to the top of pension schemes' to-do lists, with 58% stating it is a priority project, research from Equiniti has revealed.
Professional Pensions is holding its defined contribution (DC) conference on 4 September.