The government must “iron out the creases” to make collective defined contribution (CDC) schemes suitably accessible, Lane Clark & Peacock (LCP) says.
In a response to the government's consultation on CDC regulations, the consultancy said the framework for CDC schemes must "encourage greater take-up and make it fairer for younger members". CDC regulations need to be "more flexible" because they were drafted solely with the Royal Mail scheme in mind and there are "currently limited options for sponsors who may wish to explore different benefit structures", the consultancy said. Additionally, LCP said sponsors should be able to design more "innovative contribution approaches that are fairer for younger people" and reduce intergenerati...
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