New Pension Schemes 'Would Have Weathered Pandemic'

Law360, London (October 7, 2020, 12:02 PM BST) -- A new type of pension scheme, which will come to the U.K. next year when legislation is passed, would have been able to weather volatility in markets shaken up by the COVID-19 pandemic without having to cut benefits for members, Aon said on Wednesday.

The broker said in a report that so-called collective defined contribution schemes would have been more robust in the face of the falling asset values seen earlier this year than standard defined contribution or defined benefit schemes.

Collective defined contribution schemes will be introduced in the Pension Schemes Bill, which was expected to receive its second reading...

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