CDC code laid in parliament
Image: QuinceCreative/Pixabay
Pardon the Interruption
This article is just an example of the content available to mallowstreet members.
On average over 150 pieces of new content are published from across the industry per month on mallowstreet. Members get access to the latest developments, industry views and a range of in-depth research.
All the content on mallowstreet is accredited for CPD by the PMI and is available to trustees for free.
The Pensions Regulator’s revised code of practice for collective defined contribution schemes has been laid in parliament today, with TPR saying it is in discussion with several possible market entrants.
TPR’s code, which has been expanded to cover multi-employer schemes, was consulted on early this year and is now expected to come into force in mid-October, meaning multi-employer CDC schemes could be operating in early 2027. TPR has now published its response to the consultation.
Executive director of strategy, policy and analysis at TPR, Richard Knox, said the regulator’s goal is to help transform a savings system into a pension model that offers people reliable, income throughout retirement.
“CDC schemes can help to deliver that future,” said Knox, adding: “We are already in discussions with several potential entrants to this market. I encourage others considering offering a CDC service to speak with our innovation service.”
Schemes that offer CDC to unconnected employers will need to apply to TPR for authorisation.
