Millions unaware of DC retirement funding risk

With 57% of private sector final salary pension schemes now closed to new employees, and hundreds of schemes closed down over recent years, ATS suggests millions of employees are in urgent need of pension guidance to avoid retirement poverty. It claims the element of risk has shifted from the employer to the individual employee, who very often knows very little about how a pension scheme works, and warns DC schemes must adapt to make them understandable to the average person. In a final salary scheme, the employer bears the risk of investment return up to retirement, any expenses and in...