Collective Defined Contribution

Labour will call for collective defined contribution (DC) schemes in order to protect savers against longevity risk and costs, the party has announced.

Pension transfer requests out of defined benefit (DB) schemes doubled after the relaxation of defined contribution (DC) retirement processes, according to one provider.

The 2014 Pension Schemes Bill, which will provide the legislative framework for arrangements that share risk between scheme members and sponsors, has been laid before parliament.