  Optimal investment strategies of an individual worker during the accumulation
phase in the defined contribution pension scheme have been well studied in the
literature. Most of them adopted the classical backward model and approach, but
any pre-specifications of retirement time, preferences, and market environment
models do not often hold in such a prolonged horizon of the pension scheme.
Pre-commitment to ensure the time-consistency of an optimal investment strategy
derived from the backward model and approach leads the supposedly optimal
strategy to be sub-optimal in the actual realizations. This paper revisits the
optimal investment problem for the worker during the accumulation phase in the
defined contribution pension scheme, via the forward preferences, in which an
environment-adapting strategy is able to hold optimality and time-consistency
together. Stochastic partial differential equation representation for the
worker's forward preferences is illustrated. This paper constructs two of the
forward utility preferences and solves the corresponding optimal investment
strategies, in the cases of initial power and exponential utility functions.
