Friday, June 13, 2008

Are we ready to take control of our pensions?

Defined contribution plans have overtaken defined benefit plans, but it is not clear whether employees are ready for the change:
When it comes to pensions, the buck has been passed from employers to employees. But too few workers realise how much they need to contribute to guarantee a decent retirement or feel confident enough about how to invest their funds. This will not lead to the headlines about bankrupt pension funds that marked the decline of the DB scheme. But it will be bad for many workers all the same.

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