Collective defined contribution (CDC) schemes must clearly communicate to members how the model may put their income and benefits at risk of reduction, the Pensions Policy Institute (PPI) says.
The capacity for savers to fully grasp the impact of the changes to their defined benefit (DB) pension scheme is the biggest challenge to Royal Mail’s planned collective defined contribution (CDC) model implementation.
The Department for Work and Pensions will consult on ‘a package of prospective design principles’ to accommodate new types of collective defined contribution (CDC) schemes later this year.
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Royal Mail starts consultation on introduction of CDC professionalpensions.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from professionalpensions.com Daily Mail and Mail on Sunday newspapers.