UK. Royal Mail moves ahead with CDC scheme
Royal Mail, the Communication Workers Union and Unite have agreed to progress plans to introduce a new collective defined contribution scheme, the first of its type in the country, following a consultation with members. Royal Mail launched its consultation in September 2021, in which it laid out plans for the new Royal Mail Collective Pension Plan. Under a CDC arrangement, members pool investment and longevity risk and contribution rates for employers and employees are set in advance. The group finalised and confirmed...
