Rather than reinventing the wheel by resuscitating the idea of the collective defined contribution scheme, Tom Selby argues Labour would do better to focus on improving the pension system we have today
Reform ‘ideas' in pensions tend to be circular - wait long enough and something you have heard before will once again be espoused as a solution to the UK's retirement problems. This time it is so-called ‘collective' defined contribution (CDC) schemes that are back on the agenda, courtesy of a newly resurgent Labour Party. Speaking at a fringe event at Labour's annual conference in Brighton, shadow pensions minister Alex Cunningham said the party "will look to allow pension funds to be established in the UK on a collaborative basis along the lines of the Dutch pension system". "It is r...
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