UK - The move to defined contribution provision could be growing faster than many commentators anticipate, a new survey is likely to show.
The fourth JPMorgan Fleming Asset Management DC Industry Survey 2003 – which is being carried out in conjunction with IPN’s sister title Professional Pensions – targets the top UK pension schemes.
The findings will create a unique overview of pension provision at the UK’s largest companies. The survey is part of JPMorgan Fleming’s ongoing initiative to build up an accurate and comprehensive picture of trends in the UK pensions industry.
Results will be made available at the National Association of Pension Funds’ conference in Glasgow in May 2003 and each company participating will receive a detailed copy of the survey’s findings.
Previous years’ surveys have highlighted some important trends and attitudes in the pensions market, including the move from defined benefit to defined contribution schemes, reaction to the Myners’ report and how pension funds choose to invest their assets.
JPMorgan Fleming Asset Management head of DC services, Julian Lyne, said: “Last year, the survey attracted a record number of responses from a broad cross-section of companies, representing around £213bn in UK pension fund assets.
“This year we would like to build on this success, by encouraging more companies to take part.”
Lyne added: “The closure of DB schemes was a hot topic last year, so we are keen to see whether this trend has gathered pace. In the 2001 survey, 75% of DB schemes ruled out the introduction of DC, yet by 2002 this had fallen to 69%.
“We suspect that DC is growing even faster than many commentators had previously anticipated.” People interested in taking part in this survey should contact Julian Lyne on 020 7742 3228 or Karen Roberton on 020 7742 5076 or write to them at JPMorgan Fleming Asset Management, Finsbury Dials, 20 Finsbury Street, London EC2Y 9AQ.
For each completed survey received, JPMorgan Fleming Asset Management will donate £5 to Cancer Research UK.
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