16th Report - Collective defined contribution pensions
- HC No.
- HC 580
- Published
- 16 Jul 2018
- Items
- 0
- Response
- No response document linked
Select Committee · Work and Pensions Committee
Collective defined contribution pension schemes inquiry
Status: Closed
Opened: 1 Nov 2017
Closed: 5 Nov 2019
1 report
Inquiry scope
The Committee invites evidence from any interested parties on any or all of the following questions: Benefits to savers and the wider economy: Would CDC deliver tangible benefits to savers compared with other models? How would a continental-style collective approach work alongside individual freedom and choice? Does this risk creating extra complexity and confusion? Would savers understand and trust the income ‘ambition’ offered by CDC? Converting DB schemes to CDC: Could seriously underfunded DB pension schemes be resolved by changing their pension contract to CDC, along Dutch lines? How would this be regulated and how would the loss of DB pension promises to scheme members be addressed? Regulation, governance and industry issues: How would CDCs be regulated? Is there appetite among employers and the UK pension industry to deliver CDC? Would CDC funds have a clearer view towards investing for the long term? Chair's comments Rt Hon Frank Field MP, Chair of the Committee, said: "What the Select Committee is aiming for is to retain some of the best features of company schemes in a different age when employers are no longer willing or able to sustain the burden of final salary promises to employees, who could club together and pool the risk themselves".Reports
Oral evidence sessions
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Correspondence
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