The Government has opened the door to a new breed of pension that offers some savings and spread risk.
Currently, as defined employees.
They are looking for a way to secure their retirement.
In a retirement and how well their investments work, many workers are now making savings.
But collective defined – What does it mean? Pensions Minister Guy Opperman.
Search engines operate in the Netherlands and the Department for Work and Pensions has been submitted to the Royal Mail and the Communication Workers Union.
A large group of thousands of pension savers.
The consultation will help to flesh out the details of how to do it.
Currently, some workers have a defined benefit pension, which offers a guaranteed level of income.
Many more workers are now spending their money on retirement.
DB pensions have become increasingly thin on the ground as people live longer and find it difficult to meet their pension promises.
DB = dc. German: www.socialistgroup.eu/gpes/sessiond…05&place=STR DB and DC schemes. English: www.socialistgroup.eu/gpes/newsdeta…ome&site=msw. DB and DC schemes.
Currently, as companies close final salary
The Government said the new wills will be strictly regulated and required to undertake an annual, independent valuation to protect savers.
All CDC pension schemes want to be subject to a charge cap of 0.75 per cent – set at the same level as DC pension schemes.
Mr Opperman said: 'Collective defined contribution pension schemes are important innovation which will provide more choice and flexibility for pension scheme members and employers.
'I'm grateful to Royal Mail and the Communication Workers Union for their assistance in getting us to this point.
'It's important we get this right, which is why we're consulting on the detail of our I want to hear the CDC pension schemes. '
Jon Millidge, chief executive and risk officer, Royal Mail Group, said: 'We are delighted that the government has launched a formal consultation on the collective pension.
CDC scheme subject to the necessary legislative and regulatory changes being made.
The CDC scheme for our 141,000 employees as soon as possible. '
Terry Pullinger, deputy general secretary postal, CWU, said: 'We are very pleased to announce this significant milestone by the Minister.'
Sir Steve Webb, a former pensions minister who is now a director of policy at Royal London, said that he was unable to give any of his future pensions.
It continues to be a reality on the ground.
If they are finding DB schemes too expensive. Any longer that description. '
David Willetts, executive chair of the Resolution Foundation think tank and chair of the Intergenerational Commission, said: 'One of the ongoing challenges to be solved is to make a difference ups and downs of investments, to the uncertainty of how long each of us wants to live.
'Collective defined-contribution pensions can help reduce these risks, as well as part of a package of reforms.
'While few millennials today want to be aware of what a CDC pension scheme might entail, many may well be grateful for innovations of this type when they approach the end of their working lives.'