It is vital that awareness is raised around where pension savers’ monies are invested and how they understand that and the impact it can have, according to Tumelo.
In light of Pension Awareness Week - starting today (31 October) - fintech firm Tumelo considered Hargreaves Lansdown research from 2021 which showed that 34% of pension savers do not know their retirement savings are invested in the stock market. The average defined contribution (DC) scheme default fund was around 75% invested in the stock market, with the bulk of that money (63.84% of the total fund) invested in overseas shares and 11.85% invested in UK shares, the research said. Tumelo has now analysed the holdings of 38 schemes' default DC funds and identified the following compa...
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