Employees 'fail to grasp' scheme risks

HSBC Actuaries and Consultants (HACL) found 88% of professionals thought members were ill equipped to cope with pension risk, however, 92% believed pensions were a key recruitment and retention tool. HACL released the findings as it launched RetireSure - a package designed to help employers enhance defined contribution pension schemes. HACL's research showed pensions industry advisers, trustees and employers, overwhelmingly believe that employees cannot manage the risks that are transferred to them when workplace pension provision is switched from defined benefit to DC schemes. The fi...