Government readies CDC for 2022 launch

Draft regulations expected to be enforced from August alongside TPR CDC code

James Phillips
clock • 2 min read

Collective defined contribution (CDC) schemes could begin operating from next year after the government set an August enforcement date for legislation.

In what it hailed as a "huge step forward", the Department for Work and Pensions (DWP) yesterday (15 December) confirmed it would proceed with regulations for single and connected employer schemes. The regulations set out how schemes will be authorised, assessed and monitored by The Pensions Regulator (TPR), alongside rules for valuations and benefit adjustments, information disclosures, and member protections. The first CDC scheme is expected to be launched by Royal Mail, which has been working on the proposals since a decision to close its defined benefit (DB) provision in 2018. ...

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

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Pensions

Petition pushing government to protect pension tax incentives gets 3,000 signatures

Petition pushing government to protect pension tax incentives gets 3,000 signatures

AJ Bell pushes to end ‘damaging speculation’ on tax-free cash and reliefs

Jenna Brown
clock 07 October 2025 • 2 min read
Standard Life launches 'affordable' pensions-focused advice arm

Standard Life launches 'affordable' pensions-focused advice arm

For existing Standard Life customers approaching retirement

Jenna Brown
clock 06 October 2025 • 2 min read
Clients need 'tailored approach' ahead of IHT on pensions

Clients need 'tailored approach' ahead of IHT on pensions

IHT ‘coming up more and more’ in conversations with clients

Sahar Nazir
clock 03 October 2025 • 2 min read