Employers will follow Royal Mail on CDC 'without a shadow of a doubt'

Pensions minister Guy Opperman

Kim Kaveh
clock • 3 min read

Large firms will follow the postal service's lead on introducing collective defined contribution (CDC) schemes if it works well for management and employees, the pensions minister says.

Guy Opperman's words came as the Department for Work and Pensions (DWP) launched a consultation to "shape future legislation" for CDC schemes today (6 November). It follows Royal Mail's announcement earlier this year, in which it collectively agreed in principle to introduce the UK's first CDC scheme as soon as possible for 141,000 employees - a joint venture with its trade union, the Communication Workers Union (CWU). Speaking to Royal Mail workers at the launch of the consultation at the postal giant's offices on 5 November, Opperman said employers will adopt CDC "without a shadow of a...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Reeves to consider £2bn raid on tax-free pension lump sum

Reeves to consider £2bn raid on tax-free pension lump sum

Telegraph reports PCLS cut could help plug £50bn public finances hole

Jonathan Stapleton
clock 21 August 2025 • 3 min read
State pension age review: Govt launches call for evidence

State pension age review: Govt launches call for evidence

UK faces long-term demographic pressures

Jenna Brown
clock 18 August 2025 • 2 min read
'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

After PensionBee calls for a legally enforceable transfer guarantee

Sahar Nazir
clock 18 August 2025 • 2 min read