Default funds for workplace pensions have never been more important. Over the next 12 months millions of workers will be enrolled into schemes, and the overwhelming majority will end up in the default. No wonder the DWP and TPR are placing such importance on the way default funds are structured. This places a huge responsibility on employers and those advising them. Now in its seventh year, the Corporate Adviser Ultimate Default Fund competition is continuing to monitor the unfolding story of DC investment strategy for the mass market.
TELL US WHAT YOU THINK at www.corporateadviserawards.co.uk/Voting.aspx where you will find out why our panel selected the funds on our Ultimate Default Fund shortlist.
Competition has never been so fierce. Contract-based providers are adding increasing levels of governance to the default funds they offer, while master-trusts have arrived en masse in the space, some from overseas, some newly established and others from existing UK players. We have also started to see the arrival of innovative target date solutions in the UK market, echoing developments pushed forward by Nest.
In the early years of the competition, tracker funds often made it to the shortlist. Winners since then have reflected a trend towards greater governance and oversight.
The shortlist is made up on the basis of nominations from advisers. It is interesting that none have selected any of the new master-trust arrivals in the sector. That is the decision of the advisers nominating funds. In light of its special position in the landscape we have invited Nest to nominate itself.
Corporate Adviser readers know and understand better than anyone else what a good default fund should look like. This poll is your chance to have your say in the great default fund debate, and win a case of 12 bottles of champagne.
Go to this web page for your chance to have your say.
www.corporateadviserawards.co.uk/Voting.aspx
