Over half of respondents (57%) hand over responsibility for their default fund to their pension provider or financial adviser, according to the Employee Benefits/Capita Pensions Research 2013.
The survey, conducted among 370 HR and benefits managers, found that 29% rely on their adviser and 28% put their trust in their pensions provider.
Nearly half (49%) of employers use a governance or management committee, and 14% take responsibility within their human resources department.
This mirrors Employee Benefits’ 2012 survey (which had a smaller sample size, slightly affecting comparisons), when 51% of respondents entrusted their governance or management committee and 40% entrusted their financial or pensions adviser.
Who is responsible for the default investment fund
Read the full version of Employee Benefits/Capita Pensions Research 2013