Amendments to UK legislation required to enable Defined Ambition Pensions Schemes to be set upJun 2014 | Client publication/article
The Queen's Speech on 4th June, 2014 paved the way for legislation allowing for collective defined contribution (CDC) schemes, also known as collective DC schemes, defined ambition schemes or target benefit schemes.
We have updated our March, 2014 paper, intended to suggest how such a legislative framework might work to reflect feedback from other legal commentators and industry bodies.
The paper - co-authored by Slaughter and May partners Philip Bennett and Sandeep Maudgil, and with input from Kevin Wesbroom and Martin Lowes of Aon Hewitt - takes the form of a "straw man" of what collective DC schemes might need in terms of legislative framework in order to become a reality in the UK.
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