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Collective defined contribution (CDC) code consultation

Published: 25 January 2022

Closing date: 22 March 2022

Response: 9 June 2022

Consultation on the draft content for a new code of practice for collective defined contribution schemes.


This consultation focuses on the draft code of practice for the authorisation and supervision of collective defined contribution schemes (the CDC code).

The Pension Schemes Act 2021 requires that members will be appropriately protected through an authorisation and supervision regime for CDC schemes. The purpose of the CDC code is to provide trustees with clarity on how to apply for authorisation and the criteria we expect prospective schemes to meet.

This consultation is for anyone seeking to understand our approach to the authorisation and supervision of CDC schemes. This will likely include:

  • trustees
  • sponsoring employers
  • scheme members
  • pension professionals
  • those looking to establish a CDC scheme