Pensions minister Steve Webb is drawing up plans to pool the pension schemes of "big, household-name" companies in a bid to lower charges and boost returns.
A Department for Work and Pensions (DWP) paper on defined ambition - expected this summer - will set out plans to introduce large scale pooled schemes, also known as collective defined contribution (CDC) schemes to the UK. The department confirmed it is looking at several different models of CDC as part of pensions minister Steve Webb's defined ambition (DA) project. A spokesman for the DWP confirmed the department had "had positive discussions with a number of employers" about DA and CDC. In an interview with the FT, Webb said he had held discussions with large companies on the is...
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