Topical Questions

Part of Oral Answers to Questions — Work and Pensions – in the House of Commons at on 18 March 2019.

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Photo of Amber Rudd Amber Rudd The Secretary of State for Work and Pensions

Today I can announce that this Conservative Government will deliver on their promise to legislate to create a new type of pension scheme: collective defined contribution schemes. These schemes will help improve retirement outcomes for members, while also benefiting employers. Savers’ contributions are paid into a pooled fund, which is invested to achieve a target benefit. At retirement, savers receive a regular pension income. This is a major promise delivered. It shows this Government are meeting their objective to protect private pensions and provide security for hard-working savers in retirement.