Think asset class

Pension product design and marketing has an irritating habit of swinging from one extreme to the other. Back in the late 1980s when defined contribution (DC) individual and group personal pensions took off, it was all about investment choice. The bulk of the products were expensive and very inflexible but they did offer a huge range of investment funds. In practice, this overwhelming choice was counter-productive and tended to send inexperienced investors scurrying into apparently 'safe' funds like cash and bonds, which are inappropriate asset classes for long-term growth although they c...