CWU

The Department for Work and Pensions (DWP) has launched a consultation to "shape future legislation" for collective defined contribution (CDC) schemes.

The Royal Mail Pension Plan (RMPP), which manages £10bn of assets on behalf of more than 120,000 members across the UK, has appointed Richard Law-Deeks as chief executive.

Henry Tapper says CDC makes sense as a means of solving one of the most intractable of economic problems but this 'new order of things' is getting a bad reception

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.

Hilary Salt says DC is merely a savings vehicle, and argues collective DC would provide a wage in retirement more efficiently