CDC updates?

[Jefferson Starfish]

Anyone got any updates on the CDC scheme?
Wasn't there a date when all the rules would be in place and royal mail could apply to start it?

[RobertT]

That date was 1st August 2022.
All the legislation was implemented and any companies wanting to start a CDC scheme, could then apply to the Pensions Regulator to do so.

I did see online that the application process itself had an upper limit of 6 months for it to be completed and that RM were planning on applying as soon as possible. With an actual implementation date of 'late 2022 or early 2023'.

I haven't seen any info to say whether RM have applied or not, and as far as I know they were the only company planning on doing so. In the short term at least.

The latest communication from RM stated, they would write to us again 3 months before the scheme was due to start.

Whether the recent strike action or the possible splitting up of the company might change their plans, I don't know. But as was mentioned in another recent thread, CDC isn't the cheapest pension option open to them.

However, the RMCPP Trustees Limited has been set up and directors appointed: https://suite.endole.co.uk/insight/comp ... e-contacts

[Woody Guthrie]

It's definitely suspicious that all has gone quiet.

If these secret talks with VESA that never happened but happened but didn't happen actually happened I would imagine any potential suitor would not want the company to commit to CDC at least until the takeover was complete... if at all.

[freespeech]

It's definitely suspicious that all has gone quiet.

If these secret talks with VESA that never happened but happened but didn't happen actually happened I would imagine any potential suitor would not want the company to commit to CDC at least until the takeover was complete... if at all.

On a similar but not as brutal theme I did wonder whether RM will propose they reduce their % to fund pay rises.

[Gary55]

Heaven sake don't put ideas in their heads.

[RobertT]

On a similar but not as brutal theme I did wonder whether RM will propose they reduce their % to fund pay rises.

If they reduced their contributions into CDC, they'd have to decrease the accrual rates aswell. Unless they expect us to put more in or to except an increase in the NRA.