Widely used investment strategies may not be an appropriate way for members of defined contribution (DC) schemes to get the level of pension that they want, a pensions consultant has warned.

Ms Evelyn Ryder, an actuary with consultancy firm Hewitt & Becketts, urged trustees to review the "default" option on their schemes, as selecting a sensible strategy could protect trustees from being sued by members if the investment failed to live up to expectations.

"Individual members who have either opted for the default strategy or who may have fallen into it should be aware that it may not be appropriate for them in trying to achieve their target pension," Ms Ryder told an Irish Association of Pension Funds (IAPF) conference.

Some members may be in a position to take more investment risks in anticipation of higher returns, while more risk-averse members may be "horrified" by the investment strategy being pursued without their knowledge, Ms Ryder said.

Around 75 per cent of DC members opt for the default strategy, which traditionally invests heavily in equities. The weighting usually moves steadily toward more stable assets as members near retirement.

However, most default strategies assume members will retire at a particular age and that the same level of risk is suitable for all.