DWP launches consultation to legislate for CDC

Launched today, the consultation is seeking to gather views from across the industry with the aim of ensuring that collective forms of saving will deliver for both employers and employees. For example, in order to protect the investments of members and to ensure costs are controlled, the DWP is proposing that all CDC pension schemes will be subject to a charge cap of 0.75%, set at the same level as defined contribution (DC) schemes. Under government proposals, CDC schemes will also be required to undertake annual independent valuations once they have been authorised to ensure that mem...