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 compan...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
