The Pensions Regulator has set out a new code of practice for the authorisation and supervision of the government’s new Collective Defined Contribution (CDC) pension schemes.

XPS Pensions Group, the influential pension consulting and administration firm, has voiced its support for the government’s proposal to introduce Collective Defined Contribution pension schemes.

The DWP has detailed its plans today for a new occupational pension scheme - with promises that members using the Collective Defined Contribution (CDC) schemes will be ‘protected’ from excessive fees by a 0.75% charge cap.

The Department for Work and Pensions is to consult on introducing large-scale Collective Defined Contribution (CDC) pension schemes although but it may be years before they arrive, according to one expert.