UK Plans Regulations For 'Third Way' Pension Plans
Law360, London (July 19, 2021, 2:55 PM BST) -- The government proposed rules on Monday that will support the creation of a new type of workplace retirement savings plan that would be more likely to withstand market shocks such as pandemics.
The Department for Work and Pensions has launched a consultation on regulation for so-called collective defined contribution schemes. The ministry said these will offer a "third way" for Britons to save for retirement.
The collective schemes, known as CDCs, are risk-sharing pension plans that are new to the U.K., although they are widely used in Canada and the Netherlands. The government established a legal framework for their creation in...
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