Pensions consultation a welcome opportunity to reduce risk to savers, says TUC

Commenting on the launch today (Tuesday) of a government consultation ahead of legislation on collective defined contribution (CDC) pension schemes, TUC General Secretary Frances O’Grady said: 

“Workers saving for retirement are crying out for an alternative to the pensions lottery they face, which heaps all the risk on their shoulders. 

“We welcome the government’s drive to allow organisations to offer collective defined contribution pensions. By sharing risk between members, these schemes give savers a better chance of a decent standard of living in old age.”