Millions of workers to benefit from modernised new pensions system

Oct. 8, 2024 - GOV.UK

Minister for Pensions, Emma Reynolds, said:We are seizing this exciting opportunity to modernise our pensions market to deliver better outcomes for millions of workers. These new rules will make it possible for all employers to provide their staff with a CDC pension scheme.

Multi-employer CDC schemes have the potential to bring a host of advantages to pension savers when compared to traditional DC schemes. An added benefit is the removal of some of the complex financial decisions pension savers are required to make under DC .

We believe many employers, pension savers, and the wider economy could benefit from the introduction of these schemes...