Adrian Boulding: CDC schemes are coming to the UK

‘Collective defined contribution’

clock • 6 min read

With CDC schemes ever closer to becoming a reality in the UK and retirement income guarantees disappearing, Adrian Boulding says sponsors and trustees need to rise to the challenge of member communications

The likelihood of the new collective defined contribution (CDC) scheme rules being enshrined in new pensions legislation in 2019 are now very high. The idea that gained traction towards the end of Sir Steve Webb's time as pensions minister back in late 2014 is now a leading candidate for a Pensions Bill in the Queen's Speech next May. The Department for Work & Pensions (DWP) has now thrown its full weight behind CDCs - producing a detailed consultation paper framing the legislation needed for CDC and, in particular, a new scheme for Royal Mail. It is clearly staking an early claim for sp...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Advisers concerned about regulatory scrutiny in decumulation phase

Advisers concerned about regulatory scrutiny in decumulation phase

Retirement planning ‘dominates’ client advice requests

Isabel Baxter
clock 27 November 2024 • 3 min read
Advisers call for new products to tackle retirement planning challenges

Advisers call for new products to tackle retirement planning challenges

Retirement products ‘don’t meet modern needs’

Isabel Baxter
clock 25 November 2024 • 3 min read
How advisers can play a role in boosting wellbeing in retirement

How advisers can play a role in boosting wellbeing in retirement

A happy retirement is the 'north star'

Cecilia Furner
clock 08 November 2024 • 3 min read