TPT Retirement Solutions has held 18 roundtable discussions with businesses interested in potential joining a multi-employer collective defined contribution (CDC) scheme.
David Pitt-Watson, co-chair of the CDC Forum at the Royal Society for Arts, also attended these events, all of which have been held over the past month.
The discussion set out the development of CDC to date and discussed the potential legislative timetable for introducing multi-employer master trust options. They also covered potential benefits to employers and member alongside challenges and risks employer could face if they decide to join this new type of pension arrangement.
TPT said it planned to hold further events later this year.
These events come as the government recently published feedback on its recent consultation on extending CDCs. This stated that the government believes “CDC will have an integral role in the future of pensions in this country” and it wants to “ensure as many savers as possible can take advantage of the benefits of CDC.”
The Government plans to publish draft regulations to extend CDC provision from single employer schemes to whole-life multi-employer schemes in the Autumn.
TPT Retirement Solutions employer & strategic partnerships director Andy O’Regan says: “As a multi-employer master trust which offers both DB and DC to members, a proposition like CDC which combines attributes of both would fit well with our capabilities and expertise.
“At these events, we are speaking to employers about their willingness to join a multi-employer CDC, gauging appetite and listening to feedback and would encourage interested employers in any sector to get in touch with us about future events.
“We believe CDC schemes have the potential to significantly improve the retirements of millions of people and we will be monitoring whether there is sufficient demand. Employers, scheme members, and the wider economy could all benefit from their introduction, and we hope to see their increasing adoption in the coming years.”
