Whitepaper response: Delivering collective DC pension schemes
More than 70 organisations responded – ‘most of whom’ the paper says were supportive of such schemes.
Amongst its conclusions are:
- That there was a clear consensus communicating the variable nature of the pension income in a CDC scheme is a huge challenge for schemes
- A small minority of respondents felt strongly that CDC is not an appropriate form of pension provision for the UK, or presented very different scheme and benefit models which they believe would provide better outcomes
- Government intends to legislate as soon as Parliamentary time allows for the CDC model set out in the consultation paper. It adds that its aim is to do so in a way that can quickly accommodate other models of CDC if appropriate in the future