Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 11 NOVEMBER 2024

DWP Consults On Extending The CDC Regime To Unconnected Employers

Norton Rose Fulbright Hong Kong
Explore more from Norton Rose Fulbright Hong Kong

Following Royal Mail's launch of the UK's first collective defined contribution (CDC) pension scheme, the DWP published draft legislation on October 8, 2024, to expand CDC to non-associated multi-employer schemes. The consultation, open until November 19, 2024, seeks input on allowing unconnected multiple employer schemes within the CDC framework. If approved, the government plans to legislate in 2025, with regulatory updates to follow. This expansion is expected to benefit employers, pension sa

United KingdomStrategy
Lesley Browning
Lesley Browning
Shane O'Reilly
Shane O'Reilly

Following the launch of the UK's first collective defined contribution pension scheme by Royal Mail on October 7, 2024, the DWP published a consultation paper and draft legislation to extend the collective defined contribution framework to non-associated multi-employer schemes on October 8, 2024. The consultation period runs until November 19, 2024.

Currently, the CDC regime covers only single or connected employers and the intention is to expand the framework to cover schemes with multiple unconnected employers.

The Pension Schemes Act 2021 includes powers to extend the existing CDC regime, and the changes can therefore be largely introduced under the draft regulations in the consultation.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

Preparing For The EU Cyber Resilience Act: Key Reporting Obligations From 11 September 2026

The EU's Cyber Resilience Act introduces mandatory cybersecurity reporting obligations for manufacturers of digital products starting September 2026, requiring notification of actively exploited vulnerabilities and severe incidents within strict timeframes. Companies must establish procedures to identify and report security events to national Computer Security Incident Response Teams, with potential fines reaching €15 million or 2.5% of global turnover for non-compliance.
United KingdomStrategy
Goodwin Procter LLP
Goodwin Procter LLP
Article

European Commission Proposes European Innovation Act

The European Commission has unveiled a European Innovation Act designed to strengthen the EU's innovation ecosystem by addressing two critical challenges: limited access to finance for IP-rich businesses and fragmented regulatory frameworks across Member States. The proposal introduces measures including a common IP valuation framework, streamlined R&D procurement procedures, and harmonized regulatory sandboxes to help startups and scaleups commercialize their innovations more effectively.
European UnionStrategy
Lewis Silkin
Lewis Silkin
Article

The SRA’s AI Warning Notice: A Regulatory Wake-up Call, Not A Reason To Step Back

The Solicitors Regulation Authority has issued a warning notice on AI misuse in legal practice, clarifying what responsible adoption looks like. While recognizing AI's benefits for document review, drafting, and research, the regulator emphasizes that solicitors remain accountable for their work regardless of the tools used, requiring proper governance, human oversight, and professional judgment to manage risks like hallucinated citations and confidentiality breaches.
United KingdomStrategy
Gateley Legal
Gateley Legal