The Pensions Management Institute (PMI) welcomes the opportunity to respond to the Department for Work and Pensions’ (DWP) consultation on Retirement Collective Defined Contribution (CDC) pension schemes. As the professional body supporting over 8,000 trustees, administrators, and pension professionals across the UK, we are committed to promoting better retirement outcomes through informed policy, professional standards, and systemic reform.

We support the Government’s ambition to broaden access to CDC benefits and recognise the potential of retirement CDC to deliver more stable and sustainable incomes in retirement. However, we also believe that the success of this model depends on addressing several critical design, governance, and communication challenges. Our response reflects the perspectives of our members and our commitment to clarity, fairness, and member empowerment.