Pensions Institute: 'Dysfunctional' DC funds halve retirement incomes

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The defined contribution market is "dysfunctional" and marked by "disingenuous" fund charges which halve the retirement income of members in low-cost schemes, the Pensions Institute says.

Research by the Institute, sponsored by low-cost master trust NOW Pensions, said some employees in individual company DC schemes are paying six times the annual charge available from multi-employer...

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