Government support for pensioners
A Westminster Hall debate on government support for pensioners is scheduled for Wednesday 12 February 2025 at 2:30pm. The debate will be led by Blake Stephenson MP.

Collective defined contribution (CDC) schemes are a new type of pension scheme in the UK. Sometimes also referred to as Collective Money Purchase Schemes, CDCs were introduced by the Pension Schemes Act 2021.
Pensions: Collective Defined Contribution (CDC) schemes (499 KB , PDF)
Collective defined contribution (CDC) schemes are a new type of pension scheme in the UK. Sometimes also referred to as Collective Money Purchase Schemes, CDCs were introduced by the Pension Schemes Act 2021.
The Royal Mail Collective Pension Plan is the only CDC scheme currently authorised by the Pensions Regulator. It launched on 7 October 2024.
There are two main types of pension scheme in the UK:
In a CDC scheme, both the employer and employee contribute to a collective fund. Like a defined benefit scheme, the collective fund pays scheme members an income in retirement. However, unlike in a defined benefit scheme, the employer does not guarantee the pensions paid by the scheme.
CDC schemes provide a target pension which is not guaranteed. The fund is managed collectively, unlike in defined contribution schemes where people build up their own pension pots. If the scheme is under (or over) funded, then members’ pensions can be decreased (or increased) accordingly.
Currently CDC schemes are only available to single employers. The government has consulted on proposals to extend the CDC market and plans to legislate for multi-employer CDC schemes in 2025.
The main advantages of CDC schemes are seen as:
The main disadvantages of CDC schemes are seen as:
Pensions: Collective Defined Contribution (CDC) schemes (499 KB , PDF)
A Westminster Hall debate on government support for pensioners is scheduled for Wednesday 12 February 2025 at 2:30pm. The debate will be led by Blake Stephenson MP.
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