How are defined contribution schemes maximising outcomes for members? Steve Delo: There are a variety of ways. First, trustees look to diversify into areas that can deliver the desired degree of return at the right risk exposures. We also negotiate with investment managers to keep costs low to help members get maximum bang for their buck. There aren’t that many levers to pull, but generally trustees and providers are trying to do things in the optimum way possible in the circumstances to ensure member interests are best looked after. Veronica Humble: Our master trust focuses on value for money and everything that involves, including investment strategy. All of this feeds into the outcomes for members and so it all needs to come together.


It is also important to understand the demographics of the 8 November 2022 portfolio institutional roundtable: Defined contribution


members and help ensure that the investments are able to withstand different economic regimes, which will be interest- ing in the next few years.


Are default lifestyle growth funds appropriate in the current environment? Joanne Segars: They are. The majority of our members invest in the default, which is built around their needs. The default is right, but we should acknowledge that the life-styling approach needs to change. Years ago, life-styling was targeted at buying an annuity at the end of the piece, now it is targeted around people making dif- ferent decisions at different points. For us, it is also about mak- ing sure that when we are designing those defaults, they are right for our members, which could be different from another set of DC members.


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32