Savers begin to push retirement funds in a new direction

2014-02-10T22:08:28-08:00February 10th, 2014|Categories: Retirement|Tags: , , , , |

Most modern pension schemes in the UK are not, according to the strict definition of the term, pension schemes at all. Companies typically run defined-contribution pension plans for their staff, which, unlike their elder final-salary or defined-benefit cousins, do not actually pay out any pensions. Instead, workers contribute to an investment fund throughout their career and, upon retirement, this pays out a pot of savings. The workplace pension plan then waves goodbye to the individual, who takes his pot [...]