Hymans Robertson has appointed Lauren Branney as head of CDC, where she will lead the continued development of the firm’s Collective Defined Contribution (CDC) proposition.
Branney will work with clients to explore and implement CDC arrangements and other collective retirement savings. She joined Hymans Robertson in 2020 as part of the firm’s DB actuarial team and is a senior actuarial consultant, advising a range of scheme trustees and sponsors. Since joining, she has played a key role in developing the firm’s CDC proposition, with strong thought leadership involvement and engagement with policymakers.
Meanwhile, senior partner Jon Hatchett has obtained a CDC Scheme Actuary Practising Certificate. According to the firm, this makes him one of a small number of actuaries in the UK qualified to act as CDC Scheme Actuary.
Hymans Robertson senior partner and CDC Scheme actuary Jon Hatchett says: “CDC has the potential to become an important new form of pension provision for UK savers. Lauren’s skills, energy and expertise make her the right person to lead its development within our firm.
“The next few years will be critical for the development of the UK CDC market. It’s exactly the right time for us to be investing in our CDC capabilities. Policymakers, providers and employers are increasingly focussed on how to deliver sustainable retirement incomes. So, collective solutions are attracting significant interest. Our’ firm’s purpose is to deliver better futures. With the retirement adequacy and gender pension gap challenges facing the DC only generations of pension savers, I’m excited about the role Collective DC can play in improving these issues.
“Lauren’s appointment and my CDC Scheme Actuary Practising Certificate strengthen our ability to help clients navigate this rapidly developing market and take advantage of the opportunities it creates.”
Branney says: “This is an exciting time for CDC pensions in the UK. After many years of policy development, the first multi-employer whole-of-life CDC schemes will start applying for authorisation over the next few months. Work continues on the legislative framework required to enable retirement-only CDC arrangements.
“CDC has the potential to transform retirement outcomes by allowing members to benefit from scale, longevity pooling and smoothing investment risk over time. By managing key retirement risks collectively, CDC can provide a more efficient means of generating sustainable retirement incomes than many individuals can achieve on their own.
“I am enjoying working with our clients, supporting them as they navigate this evolving market, designing whole of life and retirement CDC schemes to meet the needs of UK pension savers them I’m also looking forward to continuing to contribute to industry policy discussions and further developing our talented team of CDC specialists as demand for these solutions grows.”
