The adoption of collective defined contribution (CDC) arrangements across the industry could be a key development that supports the government’s agenda for savers to make good pension choices, the industry says.
CDC as a key option at the point of retirement was supported in several responses to the Department for Work and Pensions' (DWP) June call for input on saver support, which closes to feedback today (25 July). The trust-based scheme-focussed consultation came after the Financial Conduct Authority (FCA) conducted research across the contract-based market which found most savers choose the "path of least resistance" when it comes to accessing their savings. This is despite the wide range of options now available to savers under pension freedoms. Scottish Widows head of policy Pete Glancy...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
