Developing rules of thumb could help members manage their defined contribution (DC) pots more effectively as they save for retirement, a report from the Pensions Policy Institute (PPI) has said.
Myths and rules of thumb in retirement income said taking 4% of income at retirement and being cautious about investing in a single asset class were two rules which could help people. The report's suggestions were presented at the State Street Global Advisors (SSGA) Defined Contribution Annual Conference. SSGA senior DC investment strategist Alistair Byrne said: "There is a tendency for people to say 'I will take my money out of my pension scheme and then I will think about what I want to do with it' but we would rather people plan and think what they are going to do before they take ...
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