DC

It's not a legal obligation

Nine default funds from major providers examined

Aims to reduce time and cost

Time to put the DC house in order

Transfer service will capitalise on increase in demand

Acquisition will add £12bn assets

It was acceptable in the 80s

Solving the UK pensions crisis one step at a time

DB schemes take 'up to three months' to respond

Some providers that insist regulated advice be taken by customers seeking to transfer out of their pensions are unsure why they require it, research suggests.