Pensions - Articles - Aon welcomes Government consultation on CDC pension schemes

 Kevin Wesbroom, senior partner at Aon, said: “It is excellent news that the Government is proceeding with its consultation on the introduction of Collective DC (CDC) schemes. Aon has been at the forefront of exploring CDC as a viable retirement saving option and our evidence (both written and oral) to the Work and Pensions Select Committee - based on extensive modelling - showed the substantial advantages these schemes offer to members.

 “The Government consultation will rightly consider all the issues that matter to employers, to members and policy makers. None of these issues are show stoppers. We know they can all be worked through based on the work that we have been doing with Royal Mail, and from Aon’s learnings in other jurisdictions, including Canada, Germany and the Netherlands.
 
 “CDC schemes offer the opportunity to transform retirement saving for generations of UK employees. We are convinced the UK pensions system will be stronger and more resilient as a result of their introduction.”