The U.S., U.K. and Australia, the world's leaders in transitioning retirement assets into defined contribution plans, are exposing their participants to a degree of risk beyond their capacity to bear, according to a PIMCO research paper.
As the three countries have become more dependent on self-directed plans, and are expected to grow more so in the future, each has developed "dramatically different" plan design and investment management styles, according to Pimco's perspective.
That fact alone should raise some red flags, says the paper.
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