Delivering Collective Defined Contribution Pension Schemes

We are pleased to respond to the consultation on CDC schemes and look forward to engaging further with the DWP on this issue.  The focus CDC places on retirement income is welcome.  However, CDC is a structural solution that does not, in itself, address the key drivers of better retirement outcomes: higher contribution levels, improving the value for members offered by existing DC schemes, and ensuring that retirees can access a good quality income product at retirement.  The PLSA believes that these should be the main policy priorities for pensions.