Work and Pensions Committee holds session on Collective Defined Contribution (CDC) pension schemes

• Watch the session on Parliamentlive TV 
• Accessing pension savings inquiry
• Work and Pensions Committee

Scope of the session

CDC pension schemes were created by the Government in the Pension Schemes Act 2021 to add to the existing Defined Benefit (DB) or Defined Contribution (DC) schemes that employers are currently able to offer. The session will examine the potential benefits and risks of CDC schemes being used more widely.

Background

The accessing pension savings inquiry is examining the options open to people when they come to access their pensions, and the advice and guidance available. It is part of the Committee’s work examining the impact of the pension freedoms and the protection of savers and follows on from its report on pension scams. The freedoms were introduced in 2015 with the aim of giving people aged over 55 more control over how and when they could access their savings.

The Committee has previous held sessions with pension policy experts and representative bodies, pension industry representatives and pension regulators.

 Witnesses

Monday 25 October at 4.05pm

• Baroness Altmann, pension and investment expert and former Pensions Minister
• Angela Gough, Head of Corporate Pensions, Royal Mail
• David Pitt-Watson, Leader Tomorrow’s Investor Programme, Royal Society of Arts, and Visiting Fellow in Finance, Cambridge University
• Simon Eagle, Senior Director, pensions actuary and GB Head of Collective Defined Contribution pensions, Willis Towers Watson, and Chair of the DC working party, Institute and Faculty of Actuaries

Further information

• About Parliament: Select committees
• Visiting Parliament: Watch committees

Image: PC