ARIES INSIGHT:

  GUIDANCE ON THE MEANING AND IMPACT
  OF PENSIONS LEGISLATION CHANGES
 

  – click to see this month's example  

 
  CDC ADVENT
Pensions Minister Guy Opperman this autumn promised a formal consultation on Collective Defined Contribution (CDC), and so it has come to pass with an announcement in the House of Commons. The DWP-led consultation paper has been published online and runs until 16 January 2019. It sets out the Government's vision for this new form of occupational pension scheme: policy intention then rather than draft legislation.

This does not herald an alteration of

the categorisation of existing schemes; rather it will allow new schemes "designed for members" to pool investment and longevity risk in providing a pension in retirement.

Within a CDC scheme, a member's contributions are invested in a collective fund with the pension being calculated as follows:

  • estimating how much money is needed to provide the target level

of benefits to each member;

  • adding up the values for each member to determine the total assets available to provide target benefits to all members;

  • if the assets available are higher or lower than the estimated money required to meet target benefits, make corresponding adjustments to: (i) the current payment of . . .

11 Nov 2018   Check other news items

Aries monitors every development in new and proposed legislation

Guidance on the meaning and impact of Pensions Legislation changes

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Clear and straight advice on putting Pensions Legislation changes into practice

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