Asset management firms have come together to create a forum as part of its efforts to ensure the investments of defined contribution (DC) pension scheme members meet their retirement objectives.
The Defined Contribution Investment Forum (DCIF), which was launched at the National Association of Pension Funds’ (NAPF) annual conference in Manchester, consists of a number of firms, including Baring Asset Management, Henderson Global Investors, J.P. Morgan Asset Management, Schroder Investment Management, Standard Life Investments and Threadneedle Investments.
The forum will promote investment excellence across DC pension schemes by creating industry white papers and arranging seminars and debates to kick-start the discussion. Its first paper will focus on the lessons the UK can learn from the more developed DC market in the US.
Stephen Bowles, chairman of the DCIF and head of DC at Schroders, said: “The members of DCIF are particularly concerned that the widest variety of investment techniques and approaches for DC schemes are not being considered.
“We believe that at present there are many DC schemes, which do not give this variety to their members and that, unless DC schemes are encouraged to change the way they invest, many scheme members may fail to achieve their retirement goals. The DCIF believes DC schemes should take action now, to reduce this likelihood.”
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