TPT CDC pension scheme announcement

Commenting on the announcement that TPT are to launch CDC pension scheme solutions, Paul Waters, Head of DC Markets, Hymans Robertson says:

“We welcome the announcement from TPT that they are to launch a CDC multi-employer pension scheme, and it is encouraging to see a provider make a clear commitment – and take a trailblazing stance – to provide a whole of life CDC scheme to their members. CDC enables DC members to benefit from higher expected pensions, and a secure income for life, while having fewer daunting decisions to make than in DC. We expect more multi-employer schemes to launch, and in the meantime, employers are assessing the benefits and determining how CDC could work for their members. This is set to pick up pace over the coming months, as employers weigh up the advantages of being an early adopter in their sector versus waiting for the CDC market to develop further first.”