I was surprised to see  a firm of professional trustees promoting itself with  WTW , who are consultants but also providers of DC services through LifeSight .

I have heard WTW present CDC as an extension of Lifesight , with CDC being available at Retirement (but not before). Most recently I attended an advertorial for itself at Pensions UK’s investment conference.

We do not yet know how Retirement CDC of this type, will emerge and when it will be available so it is odd that it is being promoted to trustees at this early stage. I asked the question of Torsten Bell, will we be getting Retirement CDC draft legislation this year and Torsten Bell told me and 1500 in the hall, we will. I am pleased for CDC and WTW and Lifesight. But it is odd that WTW are so forward in promoting Retirement CDC.

It is also odd that HS Trustees are promoting themselves by being photographed from the top floor of WTW’s City offices in Lime Street (the insurance end of the City).

My hope is that HS Trustees will focus today on what is legislated for today and for which in a couple of months we will have a CDC code.

Both the DWP and TPR have made it clear that trustees should not promote one CDC scheme over another but must stick to the job that trustees have, of making sure that members are treated fairly and that they get the value from their money they’ve put by.

It is important that CDC does not become conflicted. WTW’s potential conflict is that they both advise and provide a DC master trust and much as I like Simon Eagle and Keith McNally and other senior WTW employees who work on CDC, I am aware that the Retirement CDC they hope to use as the default pension for Lifesight  members reaching retirement.

There are other consultants who are not conflicted and who can offer trustees a view of the market that includes whole of life CDC schemes. They may not have the money to throw at trustees in the way that WTW appear to have. But I suspect that it is better governance, a Trustee whether professional or member or employer nominated, to get your information from Government or at least advisers who are unconflicted.

If I was HS Trustees, I would not be posting their photographs in this way, if I was WTW, I would be very careful not to breach the conflict of interest between making money as an adviser and making it as a provider of DC (and at some stage CDC) services.