When will CDC actually start?

[RobertT]

But all you're doing is stating the obvious and comparing apples to bananas!

You're comparing CDC with a scheme that closed 14 years ago – it's pointless!

As you know yourself, every change to RM pensions over the years has been for the worse, and however the CWU or CDC advocates in the pension industry try to big it up, I don't think CDC is ever going to take us back to the halcyon days of the final salary scheme.
But I do still believe it has the potential to alter the trend of continued decline and offer similar benefits to CARE, which for me is a much more realistic end game.

As a section C member myself, the change from 1/60ths to 1/80ths is on the face of it a reduction. But when you consider that C'ers won't have the Lower Earnings Deduction taken away before pensionable pay is worked out, and CDC will provide a standard lump sum that isn't on offer at the moment, overall there's not a huge difference in benefits. Although as you rightly say, contributions will be higher, and the obvious caveat that it needs to do what it aims to do.

Personally I've never expected to be in CDC for very long and it looks increasingly likely I may have left RM before it starts, so it won't affect me too much. But I'm hoping it does work out and the CWU's & RM's aim of providing a decent pension rather than basically just a savings account, comes to fruition over many years to come.

[renrag40]

I agree with you Robert about hoping this scheme works out and provides people who may be paying into it for anywhere up to 50 years a good pension.
I think it can be put into context by the fact people in Section C will be paying 20% more in weekly to roughly get the same benefits plus the built in lump sum that they were receiving under the scheme that was closed to further accrual in 2018.
But because it is only a target, not guaranteed and can be reduced I would not rely on it.
Plus of course, I’m not the one who is trying to put into peoples minds eye that they are paying for an apple but it could provides the benefits of a banana........ that award goes to Pullinger et al by alluding to the CDC providing roughly the same benefits as Section B....... I would be staggered if it did......... I would be even more staggered if I will still be around in 30 years to see it.
HAPPY NEW YEAR EVERYONE!!!