Several major investment firms in the UK have launched The Defined Contribution Investment Forum (DCIF) today, which aims “to ensure that members in a DC pension scheme receive the best possible investment services to help them meet their retirement objectives”.
The group, launched at the National Association of Pension Funds conference, will promote investment excellence across DC pension schemes, employing initiatives including industry white papers and arranging seminars and debates.
The group’s 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 group and head of DC at Schroder Investment Management, said: “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 founder members of DCIF are Baring Asset Management, Henderson Global Investors, JP Morgan Asset Management, Schroders, Standard Life Investments and Threadneedle Investments. New members are welcome. said Bowles, and should contact him at [email protected].
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