UK - Companies have shown interest in collective defined contribution (CDC) schemes or said the government should change pensions legislation to accommodate such schemes, a survey conducted by Hewitt has revealed.
Although such a scheme would be classed as a defined contribution scheme, the benefits would be targeted to give members a pension plan resembling a defined benefit scheme.
Richard Mulcahy, principal consultant, Hewitt, said: "If employers are to continue to provide occupational pension schemes, they need the financial certainty that a defined contribution scheme offers.
"However, employees are ill-equipped to take on the risk and responsibilities of such schemes.
"Providing targeted defined benefits from within a defined contribution wrapper is, therefore, a logical compromise between these two conflicting realities - and it's this which makes a CDC scheme potentially attractive."
The DWP is currently consulting on the deregulation of pension schemes and has asked for views on the idea of CDC schemes as a means of encouraging occupational pension provision.
The DWP has asked to receive responses by 28 August.
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