All Collective defined contribution (CDC) articles – Page 7
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Opinion
DC Debate Q4: A pensions policy wishlist
After many years of tinkering, many in the pensions industry pray for no news and stability in the Department for Work and Pensions’ policy announcements. But what changes could benefit savers, rather than the taxman? Five defined contribution experts discuss.
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OpinionCDC serves an obvious purpose for DWP
Editorial: Addressing Royal Mail workers in London last week, pensions and financial inclusion minister Guy Opperman was keen to justify what is effectively a legislative carve-out on collective defined contribution.
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News
More unions eye CDC as possible negotiation outcome
What is good enough for postal workers is, it would appear, not good enough for academics.
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News
CDC consultation aims to avoid Dutch pitfalls
Collective defined contribution schemes will be designed to minimise intergenerational unfairness, according to the Department for Work and Pensions, as it announced plans to legislate for the benefit structure in late 2019.
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News
Government to legislate for CDC
The Work and Pensions Committee has published a letter from Guy Opperman, minister for pensions and financial inclusion, which indicates the government’s intention to lay primary and secondary legislation for collective defined contribution schemes.
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News
More sponsors in talks with government over CDC
A handful of corporate entities have held exploratory discussions with the Department for Work and Pensions on collective defined contribution schemes, according to DWP defined benefit strategy team leader Julian Barker.
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News
Johnson: With-profits a better alternative to risky CDC
Plans for collective defined contribution schemes are "a risk too far", and savers should instead be offered individual savings pots invested in with-profits funds, according to one of the architects of freedom and choice.
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News
Select committee chair loses no confidence vote by local party
Labour MP Frank Field has lost of vote of no confidence in his constituency, as local party members try to oust the Work and Pensions Committee chair over his support for Brexit.
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News
Select committee hails CDC as 'new Beveridge' for UK pensions
Collective defined contribution schemes could usher in a new era of progress for the welfare state, according to the Work and Pensions Committee’s latest report, as the influential group of MPs seeks to increase pressure on government to facilitate the swift creation of CDC schemes.
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OpinionCDC ship has sailed for many employers
Collective defined contribution’s aim of providing a wage for life is laudable, writes Bravura Solutions’ Jonathan Wileman, but with the shift to DC already underway and savers keen on freedoms, its moment may have passed.
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OpinionDC should stand for decent contributions
From the blog: In recent years, regulators have put so much emphasis on the minutiae of defined contribution pensions that we seem to have forgotten about the bigger picture.
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News
Report urges pensions overhaul to fix intergenerational unfairness
The UK’s intergenerational contract is under more strain than ever, and radical reforms are needed to secure the funding of increasing care costs while helping young people to save, according to Conservative peer Lord Willetts.
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News
UK could profit from Australia’s missed default opportunity
A default drawdown proposition rejected by the Australian government could offer “freedom from the pension freedoms” for unengaged savers who cannot afford advice at retirement, it has been claimed.
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News
Retirement defaults would strengthen UK system, experts say
UK pension commentators often point to the Netherlands as an example of a country with a good pensions system, but the UK’s introduction of freedom and choice has also attracted interest from Dutch pension experts.
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News
CWU members vote for Royal Mail deal
The Communication Workers Union has announced that its members have overwhelmingly voted in favour of a deal with Royal Mail over pensions and pay.
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News
Do savers really want access to CDC schemes?
Collective defined contribution looks closer than ever to becoming a reality, but some experts still doubt whether those planning for their retirement even want the product.
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News
BT agrees to replace DB with ‘hybrid' scheme
BT has announced the closure of its defined benefit scheme and has agreed to develop a ‘hybrid’ solution with the Communication Workers Union.
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OpinionCDC: Two birds in the bush
Editorial: The fight for defined benefit accrual is coming to a head at universities after employers showed their hand early in the dispute over pensions.
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News
Govt 'tempted' by latest Royal Mail CDC proposals
The Department for Work and Pensions is “tempted” to lay regulations facilitating the creation of collective defined contribution schemes, following a recent breakthrough by the team drafting proposals on behalf of Royal Mail.
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OpinionIs it too late for CDC?
Collective defined contribution schemes would improve outcomes, but huge obstacles are in the way, says Hugh Nolan from the Society of Pension Professionals.