Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, what progress her Department has made on the development of Collective Defined Contribution pensions in the UK.

Collective Defined Contribution (CDC) pension schemes have the potential to transform the UK pensions landscape and deliver better retirement outcomes for pension savers. That is why we legislated for single and connected employer CDC schemes which came into effect on 1 August 2022. My department continues to engage with those who are keen to extend CDC provision to help us develop an appropriate framework which would allow well designed and well-run multi-employer and master-trust CDC schemes to operate.