The Pensions Regulator (TPR) has confirmed that it is on track to finalise the collective defined contribution (CDC) code of practice by 1 August 2022, while further work on the issue of pension scams will be published “in due course”.

Speaking at the Pensions Age Northern Conference 2022, TPR lead investment consultant, Fred Berry, confirmed that TPR has been analysing industry feedback following its consultation on the draft code of practice earlier this year.

Industry experts previously urged TPR to publish a finalised code to be published after regulations for CDC schemes were introduced to parliament, to allow employers considering this option to prepare ahead of applications opening in August.

Berry confirmed that TPR is working to a deadline of “no later than the first of August to get the code finalised and in place”, which is expected to allow Royal Mail to meet its commitments to launch a collective scheme by the end of the year.

He also suggested that there is potential for the CDC framework to develop “quite quickly”, echoing the Pensions Minster’s ambition to potentially extend the CDC framework to include other types of pension schemes.

“Having a CDC code in place for single and connected multi-employer schemes will be a benchmark for future entrants into these markets,” he stated.

Read more @Pension Age