The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2021: PLSA response

On the 19th July 2021, the Department for Work and Pensions (DWP) opened a consultation on the draft regulations supporting the introduction of Collective Defined Contribution (CDC) schemes, including what they must do to become authorised, to operate effectively in the market and what happens if changes need to be made.

The PLSA welcomes the creation of an authorisation regime for Collective Money Purchase (CMP) schemes and the accompanying regulations. A robust authorisation regime will be important to engender trust with members. We look forward to continuing to engage with Government and regulators both on the future Code relating to CMP schemes as envisaged here as well as forthcoming consultations on approaches to legislating for unconnected multi-employer and decumulation-only CDC.