Having choice empowers individuals but when it comes to auto-enrolment, choice has to be right, according to the National Employment Savings Trust (Nest).
Speaking to FTAdviser, Mark Fawcett, chief investment officer for Nest, said: "Behavioural economics teaches us that it is important to have choice. People want to feel empowered, even if they do not want to exercise that choice
"However if you have 60 or 70 fund choices, people will begin to be confused and find it difficult to make a decision.
"We have five fund choices at Nest and we make sure the objectives of those funds are clear, so members absolutely know what they are getting."
