All Collective defined contribution (CDC) articles – Page 4
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NewsTPR to accept CDC applications from August
The Pensions Regulator has published its draft code of practice governing authorisation for collective defined contribution schemes, and is set to begin accepting applications from August.
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NewsTPR to publish new CDC code before the end of January
The Pensions Regulator will be consulting on a new code of practice for the authorisation and supervision of collective defined contribution pension schemes before the end of January, chief executive Charles Counsell has revealed.
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NewsMPs support CDC development, call for DWP to scrap statement season
In a wide-ranging report, the Work and Pensions Committee has recommended that the government continue its work on collective defined contribution schemes and, separately, scrap the proposals for a “statement season” favoured by pensions minister Guy Opperman.
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NewsFormer shadow pensions minister Jack Dromey dies aged 73
On the go: Former shadow pensions minister Jack Dromey, MP for Birmingham Erdington, has died at the age of 73.
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NewsDWP begins engagement over multi-employer CDC schemes
Pensions minister Guy Opperman has confirmed that preliminary work has begun on the creation of multi-employer collective defined contribution schemes, as the Department for Work and Pensions publishes its response to the consultation on single-employer arrangements.
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NewsRegulators’ value for money paper branded ‘utopian’ by SPP
On the go: The Society of Pension Professionals has criticised the “utopian” value for money discussion paper published by the Pensions Regulator and the Financial Conduct Authority, arguing that there is “no practical way” of achieving the goals set out.
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NewsFifth of businesses are interested in CDC schemes
On the go: More than a fifth of businesses are interested in setting up a collective defined contribution scheme for their employees, according to new research from the Association of Consulting Actuaries.
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NewsRoyal Mail finalises CDC contribution rates
On the go: The Royal Mail’s new collective defined contribution plan will have a fixed employer contribution of 13.6 per cent, as well as a standard employee contribution of 6 per cent, the group confirmed on Thursday.
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FeaturesCould CDC solve the USS crisis?
Collective defined contribution has been touted as a possible long-term solution to the problems of the Universities Superannuation Scheme, but experts and unions are not convinced of its suitability.
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NewsRodda keen to expand AE but remains silent on pensions tax
Shadow pensions minister Matt Rodda has said he is keen on expanding auto-enrolment and called for a negotiated settlement between unions and the Universities Superannuation Scheme, but he would not be drawn on Labour’s plans for pensions taxation during a talk with the Society of Pension Professionals.
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NewsOpperman not rushing CDC, defends statements season
Pensions minister Guy Opperman has confirmed there will be no regulations on multi-employer collective defined contribution schemes before the end of next year, set out targets for Pension Wise uptake, and become embroiled in a spat with former pensions minister Sir Steve Webb over the effectiveness of the proposed “statements season”.
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NewsSupply chains – the missing link for investors on ‘S’
Institutional investors play an important role in helping portfolio companies improve their social credentials, but issues must not be moved up and down the supply chain.
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NewsUK must take lessons from abroad to successfully integrate CDC
On the go: The UK must look to the international experience of collectivised pension schemes and prioritise effective member communications, the Work and Pensions Committee has heard.
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NewsRoyal Mail CDC scheme closer to reality as consultation launches
Royal Mail has launched a consultation on its new collective defined contribution scheme, detailing the structure of the new pension fund, which the postal company is aiming to launch in 2022.
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PodcastsPodcast: Industry ‘irritation’ with TPR’s code of practice could have been avoided
Podcast: The negative reaction of the industry to the Pensions Regulator’s new code of practice shows what can happen if consultations are handled poorly, says Tim Middleton, director of policy and external affairs at the Pensions Management Institute. He is joined by Steven Taylor, partner at LCP, to discuss consultations, collective defined contribution schemes, and flexibility within the defined benefit universe.
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NewsDraft CDC regulations hampered by poor definitions, industry warns
The government’s consultation into draft regulations governing collective defined contribution schemes requires more work on definitions if these pension funds are to be properly implemented, with the Pensions and Lifetime Savings Association warning it could create a “back door” for unscrupulous employers.
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NewsAon launches online quiz to explore CDC option
On the go: Aon has launched an online quiz that UK employers and pension scheme trustees can use to explore how a collective defined contribution scheme could meet their future needs.
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NewsIndustry experts predict limited roll-out of CDC schemes
The government's consultation on regulations governing collective defined contribution schemes was received as a welcome step forward in the industry, but experts have cautioned that initial demand is likely to be low due to the restrictive conditions and high costs imposed on the market.
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PodcastsPodcast: Treasury ‘ignored advice’ in public sector pension reforms
Podcast: A report from the Public Accounts Committee about the public sector pensions reform has showed that Treasury ignored advice that could have prevented the McCloud case, argues Ian Neale, co-founder of Aries Insight. He is joined by Sackers partner Claire Carey, in an episode also covering industry consultation fatigue and the new Task Force on Climate-related Financial Disclosures reporting requirements.
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NewsMore advice needed on ‘fiendishly complicated’ pension freedoms
Pension freedoms have presented members with “fiendishly complicated” choices and providers are being stymied by the blurred line between guidance and advice, a hearing of the Work and Pensions Committee has heard.