Slide 1: Global DC Peer Study 2025 Summary Report | 1 |
Slide 2: Foreword | 2 |
Slide 3: Study snapshot | 3 |
Slide 4: Top three takeaways | 4 |
Slide 5: Key takeaways | 5 |
Slide 6: Study highlights | 6 |
Slide 7 | 7 |
Slide 8: Beliefs shaping DC strategy DC members are best served through long-term focus, high-quality defaults and strong governance | 8 |
Slide 10: Regulation might be neutral, but political influence on portfolio management decisions is expected to increase | 10 |
Slide 11: It is hard to argue with the logic of sustainability, yet practice arguably lags Fiduciary duty likely to be a highly influential factor in asset owner policies going forward | 11 |
Slide 12: When designing your overarching investment strategy to and through retirement, how important are the following factors? | 12 |
Slide 13 | 13 |
Slide 14: Extremely strong Board and management dynamics in governance and culture | 14 |
Slide 15: How DC funds are managing investments today and tomorrow In/outsourcing models remain mixed, but the average direction is towards insourcing more | 15 |
Slide 16 | 16 |
Slide 17: Current asset allocation of main growth fund, and its likely shifts (as of 30 September 2024) | 17 |
Slide 18: Private markets are seen as valuable components of the portfolio, but with challenges | 18 |
Slide 19: Total Portfolio Approach The peer funds are evenly spread on this attribute | 19 |
Slide 20 | 20 |
Slide 21: Post-retirement pathways: drawdown, annuities and lifetime income A fragmented landscape with few members being protected against longevity risk | 21 |
Slide 22: Default pathways in decumulation are emerging, led by larger funds Soft default dominates, but member choice still play a key role | 22 |
Slide 23: But there is still a very long way to go before we have solved this | 23 |
Slide 24: Provide education… and a degree of compulsion | 24 |
Slide 25 | 25 |
Slide 26: The proportion of peers’ total internal spending allocated to technology | 26 |
Slide 27: AI’s emerging role in DC funds Steady AI-driven improvements, with a few areas poised for disruption | 27 |
Slide 28: All-round impact of technology and AI adoption accelerating Peers increasingly focused on a stronger data platform and more joined-up technology system | 28 |
Slide 29 | 29 |
Slide 30: A high commitment to decarbonisation The majority of peers are addressing decarbonisation, with two-thirds having made net zero pledges or commitments | 30 |
Slide 32: Supporting materials | 32 |
Slide 33: Peer study participants | 33 |
Slide 34: Global peer group breakdown | 34 |
Slide 35: Limitations of reliance and contact details | 35 |
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