Inside investment: Refined benefits

Defined benefit pensions are rapidly being supplanted by defined contribution plans, especially in the UK and US. However, it is increasingly clear that many DC schemes are not fit for purpose.

For fashionistas Zadig & Voltaire is a chic French brand. For those of a more literary bent Voltaire’s Zadig ou la Destinée (1747) is the forerunner of the detective novel. It tells of the fate of Babylonian philosopher Zadig, who ends up being accused of sorcery because he can describe a missing dog and horse without ever having seen them, drawing his conclusions from minute observations.

It is often said that statistics are a dark art, used to obfuscate rather than illuminate.

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