Commenting on DWP Consultation, “Extending Opportunities for Collective Defined Contribution Pension Schemes”, Kathryn Fleming, Partner, Hymans Robertson says:

“This consultation is another step along the journey towards equipping pension providers with the tools to allow them to design decumulation solutions that can meet the needs of future DC savers. CDC in decumulation might not be the right solution for all DC savers, recognising that retirement needs are very personal and multi-layered. But, it will offer the exciting prospect of a solution that bridges the gap between the complete flexibility and risk of drawdown and the certainty but irreversible option that is offered by annuities. It is right that the conversation takes place now as the scale required to deliver these solutions is fast approaching.”