About this working party
Collective Defined Contribution (CDC) schemes are a new kind of pension scheme for the UK, featuring fixed contributions, investing collectively and paying variable income for life. CDC schemes bring advantages for workers and employers over other pension designs and also bring new challenges for pension design and management. Actuaries have a large part to play in this work. CDC schemes were first enabled in the UK by the Pension Schemes Act 2021, with further variations due to be enabled in future. The UK’s first CDC scheme was approved by the Regulator in 2023. The IFoA aims to aid the development of UK CDC pensions in the public interest.
The party works to support this aim - including by:
• developing thinking in CDC and other collective risk sharing schemes,
• engaging with external stakeholders such as DWP and the Regulator, and
• commenting externally on CDC
Chair: Simon Eagle
Established: 2018