OpenConsultation consultationoutcome

Retirement Collective Defined Contribution pension schemes

From:
Department for Work and Pensions
Published
23 October 2025
Last updated
3 June 2026 — See all updates
This consultation has concluded

Read the full outcome

Government response to the public consultation on draft legislation to amend The Occupational Pension Schemes (Preservation of Benefit) Regulations 1991

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The Occupational Pension Schemes (Preservation of Benefit) (Amendment) Regulations 2026

PDF, 132 KB, 2 pages

The Occupational Pension Schemes (Preservation of Benefit) (Amendment) Regulations 2026

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Detail of outcome

This document forms the government’s response to Chapter 9 of the public policy consultation on Retirement Collective Defined Contribution pension schemes that was launched on 23 October 2025 and ran for 6 weeks.

The Bulk Transfers without Consent of Money Purchase Benefits without Guarantees non‑statutory guidance has also been amended to reflect the change that will be made by the Occupational Pension Schemes (Preservation of Benefit) (Amendment) Regulations 2026 in respect of collective money purchase schemes or sections authorised under Part 1 of the Pension Schemes Act 2021.

Original consultation

Summary

Public consultation on a policy framework for a new type of Collective Defined Contribution scheme to be used in retirement.

This consultation closesran atfrom
to

Consultation description

This consultation seeks views on policy proposals for the creation of a new type of Collective Money Purchase Scheme (commonly referred to as a Collective Defined Contribution (CDC) scheme), which is to be used only by pensioner members – a “Retirement CDC scheme”. These schemes would allow individuals who have saved into Defined Contribution (DC) pensions to transfer their pot at retirement into a collective fund that provides a trustee managed income for life, adjusted annually based on investment performance and scheme sustainability.

We have also recently published the government response to our public consultation on draft legislation to extend Collective Defined Contribution (CDC) provision to whole-life unconnected multiple employer schemes and other related provisions

Documents

Retirement Collective Defined Contribution pension schemes

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Retirement Collective Money Purchase (CDC) Schemes: Options Assessment

PDF, 354 KB, 25 pages

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Updates to this page

Published 23 October 2025
Last updated 3 June 2026 href="#full-history">+ show all updates

  1. Added response to Retirement Collective Defined Contribution pension schemes.

  2. First published.

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