Aon partner and head of UK retirement policy Matthew Arends has become one of the first actuaries in the UK to gain a new CDC qualification.
Arends says this reflects Aon’s drive to help promote the take-up of CDC across the UK once these new pension arrangements gain regulatory approval to allow the establishment of multi-employer schemes.
Arends has gained the Institute and Faculty of Actuaries’ (IFOA) CDC Scheme Actuary’ Practising Certificate (CDC PC). This enables him to be appointed as a scheme actuary to a UK CDC scheme, and mirrors the equivalent requirements for DB schemes.
The CDC PC is a relatively new addition to the qualifications available within the actuarial profession — having been incorporated in December 2022.
Arends says: “I’ve been part of a team at Aon that has been at the forefront of the drive to bring CDC schemes to this country, so I’m particularly pleased to be one of the first actuaries in the UK to gain this certificate.
“To apply for a CDC PC, it is necessary to demonstrate competency against a few areas appropriate to CDC schemes, such as technical knowledge and professionalism, with each application being reviewed by the IFOA’s Practising Certificates Committee.
“We are currently awaiting the legislation that will enable whole-life multi-employer CDC schemes, which will be key to the way this new type of scheme can develop in the UK. Once this is in place, I look forward to more members of the profession pursuing and gaining this certificate in order that the number of CDC schemes can grow at pace.”