DC pensions need to start valuing value

Since auto-enrolment was introduced in 2012, there’s been an uptake in defined contribution (DC) pensions across the UK. Millions are now taking part in workplace pensions and saving for their future. However, it’s been over a decade and a lot has changed… except the DC product itself. Why? An obsession with price has made change challenging, asserting itself as the deciding factor in selecting pension provision in the age of “Rip-off Britain”. The price-first mindset also comes from the shift from DB to DC, where employees now carry the risk. This long-term obsession has affected providers,...