The pensions industry supports a default option when members hit retirement according to a consultation by the National Employment Savings Trust (NEST).
FTSE100 company defined contribution schemes' use of default options has increased from 82% to 92% over the past year but a fifth of defaults do not meet government standards, a consultant says.
Professional Pensions is set to publish a guide to auto-enrolment and pensions reform on June 28.
Jonathan Stapleton's dream for DC defaults
Jonathan Stapleton shines spotlight on default provision
Professional Pensions has launched a Campaign for Better DC Default Options in a bid to raise awareness of best practice in defined contribution default design.
Industry gets behind PP call to arms on decent defaults