Well-managed defaults key to ensure late decision-making majority are not penalised

Survey finds majority only make pension decisions one year or less before retirement

Jonathan Stapleton
clock • 1 min read
Well-managed defaults key to ensure late decision-making majority are not penalised

Late decision making by scheme members about retirement options mean a well-managed default strategy to and through retirement is crucial to ensure good outcomes, research by AllianceBernstein shows.

The asset manager's survey - conducted by YouGov among 2,566 adults in the final quarter of last year – found 63% of defined contribution (DC) members will make a decision about their pension only ...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Over a quarter of DC members have never checked their pension online

Over a quarter of DC members have never checked their pension online

Barnett Waddingham says AE system has created generation of ‘pension ostriches’

Martin Richmond
clock 23 May 2024 • 3 min read
SPP urges rethink of lifetime provider model, raising cost and complexity concerns

SPP urges rethink of lifetime provider model, raising cost and complexity concerns

Paper raises questions about impact on engagement, member value and competition

Jasmine Urquhart
clock 21 May 2024 • 3 min read
Industry mostly agrees DC sector needs a rethink

Industry mostly agrees DC sector needs a rethink

PP poll finds many think DC sector should reevaluate itself amid falling contributions

Jasmine Urquhart
clock 20 May 2024 • 2 min read
Trustpilot