U.K. Department of Work and Pensions launches collective defined contribution consultation
The Department of Work and Pensions (DWP) has launched a public consultation on a policy framework for broadening collective defined contribution (CDC) provision in pension schemes.
The consultation was launched to get views from the public on policy proposals for broadening CDC provision beyond single or connected employer schemes, to accommodate multi-employer schemes.
It has also asked for opinions on the role of CDC in decumulation, including how products of this kind might work in practice, and whether there is a significant appetite for decumulation-only CDC products, in order to further its understanding of the specific challenges their designs might pose.
Only applicable to people living in Britain, the consultation is aimed at pension scheme trustees and managers from DC master trust schemes, pension scheme service providers, other industry bodies and professionals, employers which sponsor an occupational pension scheme, and those seeking to establish a CDC scheme.
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