CDC

The government has confirmed its commitment to overhaul the retirement process and announced new plans to introduce collective defined contribution (CDC) in the Queen's Speech today.

Members of the industry have expressed concern over collective defined contribution (CDC) schemes, which are expected to feature in the Queen's Speech later this week.

Workers are to be given the option of saving into new 'collective' pension schemes which ministers believe could boost their incomes by up to 30%, under plans to be unveiled in the Queen's Speech later this week.

The RSA's David Pitt-Watson explains what the government needs to go if it wants to introduce collective defined contribution (CDC) to the UK.

Pensions Minister Steve Webb says he remains committed to defined ambition (DA) despite the Budget scrapping restrictions on how people take their pensions income at retirement.

Almost half of Buzz respondents said letting defined contribution (DC) savers take their pots in cash would undermine plans to introduce collective DC.

Punter Southall’s Catherine Love Soper says other countries are abandoning collective defined contribution

Shadow pensions minister Gregg McClymont has challenged pensions minister Steve Webb over his defined ambition (DA) proposals in light of the government's defined contribution (DC) reforms.

Government proposals to scrap restrictions on pensions access could lead to a further wave of employers closing defined benefit (DB) plans to future accrual.

Government proposals to scrap restrictions on pensions access will pave the way for collective defined contribution (CDC) schemes, Barnett Waddingham says.