Collective Defined Contribution Pension Schemes Bill

Key Points

• Creates a legal framework to establish collective defined contribution (CDC) pension schemes and how they are set up and supervised.
• Sets governance, funding, and regulatory requirements to protect members and ensure proper oversight.
• Clarifies how CDC schemes relate to existing pension types and addresses transitional and connected provisions for implementation.
• Provides associated powers and provisions to support the introduction and operation of CDC schemes.

Progress

The bill is at the second reading in the House of Commons, the early stage of its passage through Parliament. After this, it would move on to committee and subsequent readings.

Voting

Recorded votes show broad cross-party opposition from the governing party on many amendments, while several opposition and smaller parties expressed support. Amendments and new clauses were generally defeated, with some parties voting in favour and others against across the various divisions.