Companies that provide defined contribution pension schemes to employees are widening the choice of investment funds, according to Watson Wyatt, the investment consultant.

More than half the UK companies offering such schemes make available at least six investment fund options to members. This compares with only 25% of the schemes surveyed two years ago. Although improved investment choice is a positive step, there are still 14% of schemes offering no investment choice. That stood at 23% in Watson Wyatt's 2000 survey.