PADA expects to finalise its recommended investment approach by the summer of 2010.
Publishing responses to its investment consultation today, the authority believes further research is needed to provide the Personal Accounts trustee corporation with final recommendations.
Respondents to the consultation largely supported PADA's suggestion to use target date funds to ensure members have appropriate investment strategies to suit their particular retirement needs.
Recommended assets for the default fund consisted largely of UK and global equities, bonds, cash, property and commodities.
There was a lower appetite for more niche asset classes, such as private equity, hedge funds and emerging market debt.
PADA says the consultation has provided useful information for the trustee corporation to consider when designing its investment strategy, but says more research will be needed, and it will continue to speak to the industry in the coming months before publishing its final recommendations in summer 2010.
Time Jones, chief executive of PADA, says: "Many of our future members will have little or no experience of investment and most will have not saved for their retirement previously.
"Developing an investment strategy that can instil confidence in the importance of saving and investing amongst millions of people, that can be delivered at a low charge, and that will improve the retirement incomes of all our members, will be one of the most important pieces of work undertaken by PADA and the future trustee corporation."
Paul Bruns and Elaine Parkes
3,000 left to transfer
Record numbers of people aged 90 plus
From 3 to 10 October