Category Archives: CDC

CDC – with-profits in disguise?


Michael Johnson, who I’ve a lot of time for, has asked me two questions. Why is it not possible to provide the attributes of a CDC scheme through a With Profits fund, set in the context of an occupational scheme … Continue reading

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Johnson misses the point; CDC is for the common man


  I don’t know whether Michael Johnson is being obtuse or obstructive, but either way, his letter to the Financial Times, misses the point.    A small cabal of consultants to the pensions industry has been banging the collective defined … Continue reading

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For you, my friend, drawdown is over- the chimera of freedom


This article is about collective pensions, it’s not technical, anyone can read it and – I hope- enjoy it. I wrote it after discussing pensions with my landlady at my Munich hotel. My friend Abraham has it in a nutshell. … Continue reading

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Why CDC risk management breaks all the DB rules – Con Keating


The advent of CDC will offer an opportunity to introduce forms and techniques for risk management which are intrinsically more efficient than those currently advocated by the Pension Regulator and which are consistent with the true duties and obligations of … Continue reading

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Con Keating’s report of David Blake’s CDC workshop


This is a personal and idiosyncratic commentary on the Pensions Institute/Netspar workshop for the exchange of experiences and views of DC plans in the UK and Netherlands. While there was little which was entirely new to me, there was much … Continue reading

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Investment aspects of CDC – Con Keating


One of the less discussed aspects of CDC is the management of the investment fund. This differs from traditional DC where the asset management objective is to maximise asset values at all times. It is intrinsically short-term. Incidentally this conflicts … Continue reading

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What is CDC?


  I’ve had a couple of calls recently for a simple explanation of what CDC is and why it could be useful in Britain today. CDC is an abbreviation for Collective Defined Contribution. A CDC scheme is created by contributions … Continue reading

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Why consumers need better choices; (explaining CDC to a merchant banker)


We need to find new ways to explain CDC to a wider audience – even merchant bankers! Continue reading

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Advisers should welcome a revival of the collective pension scheme


Financial advisers have never had it so good. The collapse of the DB market has led to the outflow of tens of billions of pounds into the wealth market,  the emergence of fund platforms has allowed them to demonstrate a … Continue reading

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Royal Mail CDC – proof of concept or the real deal?


I am always amazed at the churlishness of the pension industry towards innovation. Here’s John Lawson suggesting that the Royal Mail should be spending £400m a year to satisfy his curiosity. I’d quite like one or two schemes to try … Continue reading

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