Gov't Floats New Pension Rules Designed To Protect Savers
By Martin Croucher (December 16, 2021, 2:19 PM GMT) -- The government has published draft rules for the introduction of a new "third way" pension plan that it hopes will offer greater protection to savers.
The Department of Work and Pensions said on Wednesday that the regulations on collective defined contribution schemes, which are still subject to parliamentary approval, will likely come into force in August 2022. The draft rules are the result of a consultation which ran between July 19 and Aug. 31.
Collective defined contribution, or CDC, schemes are risk-sharing pension plans that are new to the U.K., although they are widely used in Canada and the Netherlands.
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