Defined contribution (DC) pensions are becoming the dominant model of retirement provision globally, placing even greater responsibility on organisations to deliver strong long‑term outcomes for members. As DC systems grow in scale and influence, they face increasing scrutiny on governance, investment models, retirement income design, operational resilience and member experience.
The Institute has a long‑standing focus on DC and wider pension research. Our 2025 Global DC Peer Study, covering 20 leading organisations across six countries, highlighted emerging trends in governance, investment, operations and member experience. This builds on our 2018 DC peer study, which examined the shifts needed for the DC organisation of tomorrow. Complementing this, our Future of Pensions work explores what makes a good pension system, how design must evolve, and the long‑term viability of pension provision.
Looking ahead, we will focus on three priority areas :
- Retirement income solutions, including better default pathways, longevity solutions and support structures across decumulation
- The role of private markets and portfolio innovation in strengthening long‑term outcomes for DC members
- More personalised and technology‑enabled member experiences, supported by advances in data, digital tools and responsible AI
The DC landscape is shifting fast. As the industry evolves, our work will continue to focus on what matters most: delivering resilient investment solutions, supporting better decisions throughout the member journey, and designing pension systems that can thrive in a changing world. We will keep driving forward the ideas and partnerships needed to build DC systems that truly work for people, now and in the future.
The growth in size and professionalism of DC organisations over the last seven years is really quite remarkable. What is constant is a very strong commitment to the individuals they serve. It is genuinely impressive.
Marisa Hall, Head of the Thinking Ahead Institute
The challenges facing DC organisations are complex, yet what stands out is the willingness to share and progress collectively
Jessica Gao, Researcher at the Thinking Ahead Institute
Related pages
Key resources
Global DC Peer Study
Explore our full report, summary report and focus on data in this global study.
What’s moving the DC industry forwards?
We’ve found a DC system growing fast but still struggling to give members a smooth retirement journey. Find out which direction we’re headed and the challenges the industry faces in investment insight.
Global DC Peer Study symposium 2025
Catch up with the event slides from our 2025 symposium, featuring insights from our study. Discover global trends, emerging best practices, and the future of DC. Access is limited to members—let us know if you need help logging in.
Pensions aren’t what they used to be… a glimpse into the future
This paper – Pensions aren’t what they used to be… a glimpse into the future – has been written following the research and discussion conducted by the Thinking Ahead Institute’s Future of pensions working group.
DC Peer Study 2018: Shifts for the DC organisation of tomorrow
The study is based on a survey and interviews of ten leading organisations in four different continents. It highlights the changing face of defined contribution (DC) around the world, drawing on the insights of the organisations that are defining the next generation of best practices.
DC Research Papers
From design and purpose to reform, Thinking Ahead’s research has captured some of the DC industry’s biggest questions over the years— here are some standout highlights.
