Schemes vary considerably. A scheme’s DC benefits might relate solely to Additional Voluntary Contributions (AVCs). At the other end of the spectrum a scheme may be entirely DC, or it could have both DB and DC sections.
For DC arrangements, supporting good retirement outcomes can be viewed as providing the framework within which members can make appropriate contribution, investment and retirement choices:
There is no need for the funding or employer covenant advice that DB arrangements require. However, due to the choices available, there is a greater need for communications to engage members to manage their retirement savings.