A survey conducted by Hymans Robertson found that 41% of DC schemes said they were interested in rolling out a collective DC (CDC) pension scheme or similar kind of risk-sharing arrangement. The government’s consultation on CDC rules closed this week, with industry commentators broadly positive on the plans. Some have …
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Pensions minister Emma Reynolds expects fresh legislation for collective defined contribution (CDC) schemes to be laid next year – but they are not expected to feature “directly” in the pensions bill. Speaking at an event marking the recent launch of Royal Mail’s CDC scheme – the first of its kind …
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Employers and their workers need an alternative to defined contribution (DC) if people are to live independent lives with dignity in retirement, according to former general secretary of the Communication Workers Union (CWU), Terry Pullinger. Pullinger was speaking of his involvement with the development of Royal Mail’s recently launched Collective …
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Reynolds gave the opening address at the Pension and Lifetime Savings Association (PLSA) annual conference in Liverpool today (15 October). “This reform will improve value for savers, remove costs from the system and also support investment opportunities.” Emma Reynolds The minister said the reforms set to be contained in the bill …
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The Department for Work and Pensions (DWP) is seeking feedback on the proposals until 19 November as it aims to “modernise” the pension system and build on the launch of Royal Mail’s CDC plan, which opened to members yesterday (8 October). The consultation is focused on rules for multi-employer CDC …
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The new model was the result of months of negotiations between Royal Mail and unions including the Communication Workers’ Union (CWU) and Unite, supported by advisers such as First Actuarial. Angela Gough, director of group pensions at Royal Mail, said: “Today heralds an exciting development for Royal Mail and for …
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Under CDC schemes, employers and employees pay a fixed rate of contributions, collected in a manner similar to defined contribution schemes. Benefits are paid with a target in mind, similar to defined benefit schemes, but with the prospect of variable increases — and the possibility of decreases. The aim is …
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Barnett Waddingham partner Hitchiner will replace Isio partner James Riley as SPP president on June 1. In an exclusive interview with Pensions Expert, Hitchiner set out his ambitions for his presidency, while Riley reflected on the organisation’s rising member engagement, and pondered missed potential for co-operation between the SPP, industry …
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In a blog post published on Monday, Counsell said the consultation will reflect regulations for CDC schemes that will be published by the Department for Work and Pensions and laid before parliament also in January. He said: “CDC schemes have the potential to change the pensions landscape by offering savers and …
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In a blog post published on Monday, Counsell said the consultation will reflect regulations for CDC schemes that will be published by the Department for Work and Pensions and laid before parliament also in January. He said: “CDC schemes have the potential to change the pensions landscape by offering savers and …
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