Some defined contribution default investment strategies are stuck in the dark ages, says JPMorgan's Simon Chinnery. It's time for more dynamism.
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Some defined contribution default investment strategies are stuck in the dark ages, says JPMorgan's Simon Chinnery. It's time for more dynamism.
From the blog: UK pensions have faced an avalanche of change over the past few years.
Many of the resulting solutions born from this have revolved around helping scheme participants either avoid or better manage potential pitfalls that could lower their odds of passing the distant and ever-desired ‘retirement finishing line’ with enough money to last them through retirement.
The challenge of getting these often new or unengaged participants on a safe retirement savings path is a complicated one, with a cocktail of investment risks facing them throughout their lifetime.
Defined contribution pots look likely to fall well short of savers' expectations. Simon Chinnery discusses the need to ramp up investment risk to plug the savings gap.
JPMorgan's Simon Chinnery warns of the effect the forthcoming charge cap on investments will have, and points to a flexible and inexpensive default fund.
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