Uneducated investors will increasingly need advice on where to put their pensions as the burden of risk shifts away from companies to employees in deciding what to do with their retirement provision
The current trend for companies to move from defined benefit (DB) to defined contribution (DC) pension provision has resulted in a flood of negative headlines with 'latest pension scandal' articles appearing on the front pages of even the popular press. Pensions have, temporarily at least, shaken off their boring image and become a matter for debate and public concern. Legislation and the resultant costs of complying with this legislation do seem to have been the main drivers behind the move from DB to DC. Figures from Hymans Robertson show that the cost to an employer of running a 'stan...
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