Shift to DC continues, more advice needed urges JPMF

JPMF makes the plea in its fifth annual defined contribution survey. The need for good advice is becoming increasingly important because the continued shift to DC schemes is loading investment risk onto employees, and increasing the importance of their investment decisions, JPMF says. The number of DB schemes closed to new members is twice what it was just two years ago – 61% against 30% - according to the 155 responses to the survey questionnaire received from the top 1,000 UK pension funds. The pace of the shift from DB to DC continues at about 12% annually, JPMF says, which mean...