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Regulation Around the World: Open Finance
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
Government confirms legislation to extend CDC to be laid in autumn
United Kingdom | Publication | May 2025
On April 29, 2025, Minister for Pensions Torsten Bell confirmed that new regulations will be laid in the autumn to allow for multi-employer collective defined contribution (CDC) schemes to be established. The related press release can be read here.
Multi-employer CDC schemes would allow a range of unconnected employers to pool their employees' pension pots into a collective fund, making administrative savings, sharing investment risks and boosting returns for members. The Government believes that due to their size, CDC schemes can offer an efficient vehicle for supporting economic growth, with similar collective funds in Canada and Australia having invested in a wide range of sectors and assets.
Mr Bell also confirmed the Government’s intention to deliver decumulation-only CDC schemes, which would allow certain savers with DC schemes to access CDC funds and offer retirees the chance to buy longer-term, pooled retirement products that deliver stability for pensioners.
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