Law Debenture response to the Retirement CDC consultation
We're pleased to share our response to the Government's consultation on Retirement Collective Defined Contribution pension schemes, an important next step in UK pension innovation.
As professional trustees for over 230 pension schemes, we support the development of Retirement CDC as a valuable addition to the retirement landscape. These schemes could offer members another retirement pathway with collective protections and greater certainty that drawdown.
Our response highlights key considerations, including:
✅ The critical importance of scale and robust governance frameworks
✅ The value professional trustees bring in navigating complex arrangements
✅ The need for clear trustee responsibilities and member protections
✅ The importance of liquidity management, given the unique cashflow dynamics
We believe the institutional approach, with trustees selecting CDC solutions under fiduciary duty, provides the right balance of innovation and protection. As the framework develops, we've identified opportunities to further strengthen the model, including enhancing guidance on trustee responsibilities, refining transfer provisions, and extending access to all DC savers.
We look forward to working with DWP, TPR, and industry partners as this market evolves. Together, we can build retirement solutions that deliver better outcomes for millions of UK savers.
Read our response to the Consultation on Retirement CDC here.
If you would like to discuss this response do contact Emma Pittaway from our expert pensions team.
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