Diversity is at the heart of Cisco’s new default pension fund, said Spencer Roach, total rewards manager at Cisco System, during an interview with Clare Bettelley, associate editor at Employee Benefits.
He added that the fund choice is underpinned by a lengthy selection process, to ensure that the employer’s final fund selection aligns with Cisco’s workforce needs.
He explained: “It’s about finding a fund that fits out 3,000 employees [and] diversity [and] making sure there’s enough range of asset choices to make that fund suitable [while] getting that right balance of risk and return.”
Roach participated in a panel debate at Employee Benefits’ roundtable event, The future of default funds, which was held in December 2013 and sponsored by the Defined Contribution Investment Forum.
The roundtable debated a range of default fund issues in the context of pensions auto-enrolment, from the extent to which default funds are fit for purpose to how employers can communicate their default fund options to employees.
Read the digital edition of The future of default funds.