Communication Workers Union

The pension schemes bill is set to boost income and protection for pension scheme members, says Guy Opperman, making 2020 a pivotal year for retirement savings.

Darren Philp argues collective defined contribution could really come to life this year if innovation is allowed to thrive.

Collective defined contribution (CDC) schemes have taken another step towards reality as the government confirmed it will consult on the "interesting new possibilities" this autumn.

Collective defined contribution (CDC) schemes are the "best means" for achieving the right balance between collective benefit security and individual freedom and choice, the Work and Pensions Committee (WPC) says.

Postal workers have voted strongly in favour of a deal that includes plans to set up the UK's first collective defined contribution (CDC) pensions scheme, during a Communication Workers Union (CWU) ballot on 28 March.

The closure of the BT Pension Scheme (BTPS) to future accrual means 20,000 active members will move to an 'enhanced' defined contribution (DC) scheme, after the company reached a deal with the union.

BT and the Communication Workers Union (CWU) are said to be close to a deal over the closure of the telecoms company's defined benefit (DB) scheme.

The government is "minded to assist" any collective defined contribution (CDC) proposal that may arise from Royal Mail and the Communication Workers Union (CWU), Guy Opperman has said.

Collective defined contribution (CDC) schemes will need clear and transparent governance frameworks, as well as effective communication strategies, to be a success, the Work and Pensions Committee (WPC) has been told.

The industry has been calling for some sort of alternative to defined benefit (DB) schemes for as long as I can remember - saying such arrangements could provide a third way between DB and defined contribution (DC) schemes.