The PMI responds to retirement CDC consultation

The Pensions Management Institute (PMI) today published its response to the Department for Work and Pensions (DWP) Consultation on Retirement Collective Defined Contribution (CDC) Pension Schemes.  

The PMI welcomes the Government’s ambition to broaden access to Retirement Collective Defined Contribution (CDC) schemes.  

Helen Forrest Hall, Chief Strategy Officer at the PMI, said:   

“We fully recognise the potential of CDC to deliver more stable incomes in retirement. However, success depends on proportionate regulation, trustee confidence, and informed member choice. We urge the Government to revisit restrictions on member marketing, address concerns around irrevocable defaults, and ensure retirement CDC is integrated into the wider guided retirement framework. With careful design and a level playing field, CDC can become a trusted and valuable part of the UK pensions landscape.  

“We welcome the Pensions Roadmap, but rollout for guided retirement and CDC should follow reforms like small pot consolidation and scale requirements - giving schemes time to pilot solutions and work with regulators to deliver better defaults and improve DC adequacy.”  

Read the PMI’s full response here.   

Note to editors:   

The Pensions Management Institute (PMI) is the UK’s leading professional body for those working in pensions and retirement savings. With over 8,500 members, the PMI represents the broadest range of pensions professionals and trustees in the country. Its members are responsible for managing and advising some of the world’s largest pension schemes, making key decisions on substantial financial matters.    

Press contact:   

For media enquiries, please contact Matt Adams, Head of Media and PR at pressoffice@pensions-pmi.org.uk