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DWP consults on permitting unconnected multi‑employer CDC schemes; Royal Mail single‑employer launch paves way; consultation closes 19 November 2024

Published on: 09 October 2024

Published by a Law360 reporter
Legal News
Article summary

DWP consultation on multi-employer CDC schemes

Opening a consultation on 8 October 2024, the Department for Work and Pensions (DWP) said that so‑called multi‑employer collective defined contribution (CDC) arrangements could provide steadier outcomes for people building their pensions. The move followed, by one day, the roll‑out of a single‑employer CDC plan for Royal Mail—the UK’s first of its kind since a statutory framework was put in place in 2021. Emma Reynolds, the pensions minister, said that, responding to strong industry interest in widening CDC use, the government now aims to further extend access by permitting unconnected, multiple‑employer schemes—so this pension model becomes available to a broader spectrum of firms and workers...

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