UK - More than half of employees pay less than 6% of their salary into their DC schemes, a new survey shows.
The study – carried out by actuarial consultant Hewitt Bacon & Woodrow among more than 250 organisations and nearly 500 schemes – also reveals the take-up rate of DC schemes is at two extremes.
At one end of the scale, 15% of schemes had a take-up rate of between 0% and 9%, while 20% of those asked had a rate of more than 70%.
This week's top stories included Legal & General acquiring MyFutureNow to provide a dashboard service to customers, while also agreeing a hybrid buy-in with a Hitachi scheme.
NEST has signed up to the government-backed Star Initiative, taking all of its 8 million members' pension pots with it.
It is perhaps inherently difficult to find an agreed definition of value for money, but some methodologies could act as a stopgap, argues Jonathan Stapleton.