Scheme will provide over 100,000 employees with an income for life and a cash lump sum in retirement
Plan became the first CDC scheme in the UK in 2023 after approval from TPR
Pensions minister Guy Opperman said the government is ‘keen to move quickly’
CDC section will offer additional employer contributions for lump sum payments
Industry called on to provide feedback on what schemes must do to become authorised
Announced as draft regulations to enable the scheme type are set for publication this month
DWP to consult on regulations as industry poll finds widespread adoption expected
The BT Pension Scheme (BTPS) has announced the appointment of three new trustees to its board.
The general election showed an increasing focus on collective over individual interests. CDC could fit right in, says Hilary Salt.