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Collective defined contribution workshop
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Event details
Date
Wed, 31 Aug 2022 - 12:00 to 13:00
Cost
Free
Overview

Later this year more than 100,000 workers at the Royal Mail will become the first in the UK to save for retirement into a collective define contribution (CDC) pension scheme.

This type of pension scheme is common in countries such as Denmark, the Netherlands and Canada, but until now employers have been unable to offer it to workers in the UK.

Trade unions have long supported CDC, and the Royal Mail scheme is the result of years of work by the Communication Workers Union.

By sharing longevity risk between members CDC can deliver retirement incomes that are both higher and more predictable than the individual DC schemes most UK workers currently rely on.

This workshop is intended for national officers, and will explore ways of securing better pensions for members by persuading more employers to follow the Royal Mail’s lead.

Confirmed speakers include CWU deputy general secretary Terry Pullinger, First Actuarial director Hilary Salt, and RSA CDC forum chair David Pitt-Watson.

This 1-hour online workshop will cover the basics of how CDC works, outline the different types of CDC, give an update on the latest legislative developments, and explore what this means for members in different industries.

To attend this event, please contact Jack Jones at jjones2@tuc.org.uk

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