Examination of Witnesses

Part of Pension Schemes Bill – in a Public Bill Committee at 11:31 am on 23rd October 2014.

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Tim Sharp: The hope would be that employers with large schemes would initially convert to one of these new models such as CDC, therefore providing some initial capital. You can easily envisage two or three big employers, which already take their pension provision very seriously but currently have DC schemes, looking to move to things like CDC. The challenge will be rolling that out across the market and seeing the development of multi-employer schemes and so on. We think there could be a role there for allowing NEST to operate a CDC scheme as a way of building scale in the market and showing that it is viable.