Hot topics for trustees: DC Agenda - Default Investment Option

A key principle of auto-enrolment is that employees cannot be required to make an active investment choice when they are auto-enrolled into a pension arrangement. Therefore, any qualifying pension schemes used for auto-enrolment must have a default investment option in place. The Department for Work and Pensions (DWP) issued guidance last year which sets out the standards which should be met when governing, designing, reviewing and communicating the default option. Deciding on the default fund is an important task for scheme sponsors, governance committees of contract-based arrangements and trustees who are planning for auto-enrolment.

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