NAPF calls for giant 'super trust' pensions

Hyde Harrison told the NAPF conference the current defined contribution (DC) pension system is "significantly flawed" and will leave too many people with "measly" pots. Super trusts are pensions run on a much larger scale, allowing small employers to join pension schemes with thousands of others rather than setting up their own small schemes. There are 42,000 workplace DC in the UK and the average scheme has just 20 members. Their size makes them costly and poorly governed, Harrison said. The larger scale pensions would have stronger governance measures than DC schemes currently of...