Tag Archives: CDC

1) Plan to scrap Bauer judgment raises ‘serious issues’ The Department for Work and Pensions’ plans to scrap the Bauer judgment raises “serious issues of pension protection”, according to Lane Clark & Peacock. 2) Women need £185,000 more for same retirement as men Women need to save £185,000 more than …

Members of the Royal Mail Collective Pension Plan (RMCPP) who choose to save for an additional lump sum payment will receive an extra 1 per cent in employer contributions, its half-year report has revealed. The RMCPP will comprise a collective defined contribution (CDC) section and a defined benefit lump sum …

In the half year end results for Royal Mail, published today (18 November), the postal company outlined more information on its current scheme, which will contain both its long-awaited collective defined contribution (CDC) section and its defined benefit (DB) lump sum (DBLS) offering. Based on current expectations, Royal Mail said …

The poll of 400 participants, conducted online in June, found the majority wanted the scheme type to be expanded to a multi-employer model, perhaps being run by master trusts. While CDC legislation has been introduced, it is currently only enabling the risk-sharing pension provision for single employers, such as Royal …

Royal Mail has launched a consultation on the Royal Mail Collective Pension Plan, seeking views from CWU, Unite, employees of Royal Mail Group and employees of RM Property and Facilities Solutions Limited currently in the Royal Mail Pension Plan (RMPP). Under the proposals, those who have been with Royal Mail …

There is “real potential” for collective defined contribution (CDC) schemes to take off in the UK through master trusts, according to Willis Towers Watson (WTW) director and senior consulting actuary, Shriti Jadav. Speaking at the Trades Union Conference (TUC) Pensions Conference, Jadav commented that while CDC schemes were likely to …

The Royal Mail Defined Benefit Cash Balance Scheme (DBCBS) deficit has grown to £177m as at 31 March 2020, up from £72m at 31 March 2019. The scheme, which has been in place since 1 April 2018, is a transitional arrangement until Royal Mail’s proposed collective defined contribution (CDC) scheme …

With a raft of changes mapped out for the industry, pensions minister Guy Opperman says reforms will place customers at their core. With a raft of changes mapped out for the industry, pensions minister Guy Opperman says reforms will place customers at their core. This government has delivered pension reforms …

Opperman: Cross-party consensus is vital for the bill The pensions schemes bill will digitalise pensions and provide savers with greater confidence for retirement, Guy Opperman has said. In a video recorded for the Pensions and Lifetime Savings Association (PLSA) annual conference today (17 October), the pensions and financial inclusion minister …

2018 saw a raft of consultations rushed through as Guy Opperman, Minister for Pensions and Financial Inclusion, promised to deliver a Pensions Bill in 2019. The bill aims to bring an end to the tinkering with pensions for some time. However, initially expected in May, the bill has been repeatedly …