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UK Eyes Summer 2022 For New Royal Mail Pension Scheme

admin November 9, 2021 Royal Mail Leave a comment 158 Views

By Martin Croucher (November 9, 2021, 2:13 PM GMT) — The government has said that Royal Mail will be able to apply from next summer for its retirement savings plan to move to become a new collective defined contribution arrangement, becoming the first of its kind in the U.K.

Guy Opperman, the pensions minister, told MPs on Monday that the deadline for the application will depend on finalized regulations and an approved code of practice being published next spring.

Collective defined contribution, or CDC, schemes are risk-sharing pension plans that are new to the U.K., although they are widely used in Canada and the Netherlands. The government established a legal framework…

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