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If you get a state pension it makes no odds that you are male or female, that you will live a day or 50 years, your entitlement is precisely the same , it is the state pension
If you buy an individual annuity, you are asked a lot of questions, including where you live (your postcode), your health and what you have to buy and when in your life! Amazingly you are not asked your age though we all know that women live longer than men but the EU forbade annuities taking gender into account so you get a unisex rate.
So how will it work for CDC? Will you be in the unisex world of annuities or will you share everything as you do with state pensions? Of course you are not being paid an annuity or the state pension , you are being paid an occupational pension when you get a CDC pension.
If you are working in an occupation where most people are men are you happy that you could get people who will live (statistically) much longer than you in your scheme. Will women earn more pension for each pound of contribution, will they get a higher cash equivalent transfer value and commutations – because you are a woman?
If you work for Aberdeen and have a cushy office job , do you get the same pension as someone who works at Stagecoach and works as a bus driver – living less long on average?
Or is sharing all about the way the state pension works – where everyone gets the state pension whether a man or a woman, whether a bus driver or a stockbroker , whether having good health or a life threatening illness?
Just how much can we share to make it fair?
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