I am a great admirer of BlackRock as a proponent of collective pensions or “CDC”. Here is Sophie Dapin  with a fresh view on what can be done.

We have Royal Mail and will soon have a collective pension for Church of England. But is that enough for employers wanting to switch from DC to CDC?

Right now there are only three CDC schemes striving to get authorised. None are household names.

It is no easy thing to create a commercial CDC pension , to be a proprietor, to set up trustees and then get authorised by the Pensions Regulator. It is important that the asset managers who want to play a part, partner with what the unions are now calling the “Challengers”

What is a Challenger? In banking we are familiar with the term, it is a kind of bank that challenges what has come before and uses fresh technology and an entrepreneurial intent to give us better banking- or at least to challenge standards among established behemoths.

I would like to see the Challenger collective pension schemes emerging to offer the alternative to DC pensions. We know that Government is enthusiastic for collective pensions.

BlackRock are doing well , but we need them to do better – to support the Challengers to get to market. Then Sophie’s excellent video will become reality. Right now we are in the world of authorisation and waiting for CDC schemes to emerge!

Click here for an excellent 45 second Reel from Sophie and from BlackRock