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CDC schemes to receive transfers without member consent; retirement CDC excluded


By Jack Gray

Accumulation collective defined contribution (CDC) pension schemes will be able to receive transfers without member consent in the same way as master trusts, although retirement CDC schemes have been excluded from the provision, the Department for Work and Pensions (DWP) has revealed.

In its response to chapter nine of the retirement CDC consultation, the DWP highlighted that members will retain the right to transfer out of CDC schemes they have been transferred into without consent until their benefits are crystallised


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Pensions UK’s RLS provide ‘timely reminder’ of ‘growing challenge’ facing savers

Pensions UK’s updated Retirement Living Standards (RLS) provide a timely reminder of the growing challenge savers are facing to have the income needed to meet their lifestyle expectations in retirement, industry figures have stated

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Majority of pension schemes not reviewing administration despite growing scrutiny

Nearly two-thirds (62 per cent) of UK pension schemes have no plans to review or benchmark their administration arrangements, despite increasing regulatory scrutiny and growing expectations around member outcomes, research from Law Debenture has revealed

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PASA launches pensions administration career pathways framework

The Pensions Administration Standards Association (PASA) has published new guidance to strengthen career development and progression across pensions administration, amid concerns about unclear career pathways and rapidly evolving skills requirements in the profession

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Trustees urged to strengthen AI governance as reforms accelerate

Trustees and pension providers will need robust governance frameworks and strong human oversight as artificial intelligence (AI) becomes increasingly central to delivering the government's pensions reform agenda, according to Lumera

Story 6

DB scheme funding closes May broadly unchanged despite volatility

Defined benefit (DB) pension scheme funding remained at a similar level month-on-month at the end of May, despite volatility, with modelled schemes having contrasting movements, according to Broadstone’s latest Sirius Index

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Pensions UK reveals increased Retirement Living Standards

Pensions UK has published the latest iteration of its Retirement Living Standards (RLS), revealing that pension savers will need more money in retirement for their expected lifestyle amid rising living costs

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