Work and Pensions Committee

Collective defined contribution pension schemes inquiry

Inquiry status: open

Report published. Government Response received.


We have become aware of a technical problem which may have resulted in some CDC evidence submissions sent on or before 31 January not being fed through into our evidence portal, even where the submitter received an automated acknowledgement by e-mail. If you sent an evidence submission to this inquiry which has not been published on our website and you are concerned that the submission may not have been received, please re-send by e-mail to workpencom@parliament.uk.

Scope of the inquiry

The Committee invites evidence from any interested parties on any or all of the following questions:

Benefits to savers and the wider economy:

  • Would CDC deliver tangible benefits to savers compared with other models?
  • How would a continental-style collective approach work alongside individual freedom and choice?
  • Does this risk creating extra complexity and confusion? Would savers understand and trust the income ‘ambition’ offered by CDC?

Converting DB schemes to CDC:

  • Could seriously underfunded DB pension schemes be resolved by changing their pension contract to CDC, along Dutch lines?
  • How would this be regulated and how would the loss of DB pension promises to scheme members be addressed?

Regulation, governance and industry issues:

  • How would CDCs be regulated?
  • Is there appetite among employers and the UK pension industry to deliver CDC?
  • Would CDC funds have a clearer view towards investing for the long term?

Chair's comments

Rt Hon Frank Field MP, Chair of the Committee, said:

"What the Select Committee is aiming for is to retain some of the best features of company schemes in a different age when employers are no longer willing or able to sustain the burden of final salary promises to employees, who could club together and pool the risk themselves". 

Terms of reference: Collective defined contribution pension schemes inquiry

Latest evidence

  • 14 Mar 2018 - Work and Pensions - oral evidence | PDF version (PDF310 KB) HC 580 | Published 12 Jul 2018

    Evidence given by Philip Bennett, former Partner, Slaughter and May, Dr Alwin Oerlemans, Head of Pension Strategy, APG, Janice Turner, Co-chair, Association of Member Nominated Trustees, Kevin Wesbroom, Senior Partner, AonGuy Opperman MP, Minister for Pensions and Financial Inclusion, DWP, Ronan O’Connor, Deputy Director, Private Pensions Policy, DWP

    Watch this evidence session

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