Retirement Collective Defined Contribution pension schemes
Read the full outcome
Detail of outcome
This document forms the government’s response to Chapter 9 of the public policy consultation on Retirement Collective Defined Contribution pension schemes that was launched on 23 October 2025 and ran for 6 weeks.
The Bulk Transfers without Consent of Money Purchase Benefits without Guarantees non‑statutory guidance has also been amended to reflect the change that will be made by the Occupational Pension Schemes (Preservation of Benefit) (Amendment) Regulations 2026 in respect of collective money purchase schemes or sections authorised under Part 1 of the Pension Schemes Act 2021.
Original consultation
Consultation description
This consultation seeks views on policy proposals for the creation of a new type of Collective Money Purchase Scheme (commonly referred to as a Collective Defined Contribution (CDC) scheme), which is to be used only by pensioner members – a “Retirement CDC scheme”. These schemes would allow individuals who have saved into Defined Contribution (DC) pensions to transfer their pot at retirement into a collective fund that provides a trustee managed income for life, adjusted annually based on investment performance and scheme sustainability.
We have also recently published the government response to our public consultation on draft legislation to extend Collective Defined Contribution (CDC) provision to whole-life unconnected multiple employer schemes and other related provisions
Documents
Updates to this page
-
Added response to Retirement Collective Defined Contribution pension schemes.
-
First published.