TPT Moves to Launch Pioneering Multi-Employer CDC Pension Scheme

TPT Retirement Solutions has confirmed plans to design and launch a new multi-employer Collective Defined Contribution (CDC) pension scheme, with authorisation targeted for completion by the end of 2026.

The announcement follows confirmation from the Minister for Pensions that legislation enabling multi-employer CDC schemes will be introduced after Parliament’s Summer Recess. In response, TPT is moving forward with plans to bring a new CDC proposition to the UK pensions market.

First Provider to Signal Entry into the Multi-Employer CDC Market

TPT is the first provider to publicly declare its intention to enter the multi-employer CDC pensions market. The organisation is currently designing a new whole-of-life CDC scheme that will be available to multiple employers across the UK.

Alongside this multi-employer solution, TPT also plans to develop bespoke single-employer CDC schemes aimed at larger organisations seeking more tailored pension arrangements.

Expanding TPT’s Retirement Solutions Offering

The new CDC proposition will extend TPT’s existing range of consolidation solutions. It will sit alongside TPT’s established Defined Benefit (DB) and Defined Contribution (DC) arrangements, creating a broad suite of pension scheme options for employers and members.

CDC schemes combine elements of both DB and DC models. For members, they aim to provide an income for life, similar to DB schemes. For employers, they offer cost predictability more commonly associated with DC schemes.

Leveraging Deep Multi-Employer Experience

TPT brings decades of experience operating multi-employer pension schemes and currently administers DB and DC Master Trusts for around 470,000 members. The organisation is drawing on this scale, operational expertise, and long-standing history of pension innovation as it designs its CDC offering.

The development of the scheme has involved extensive engagement across the pensions industry to ensure the structure reflects modern employer and member needs.

Industry and Leadership Commentary

Andy O’Regan, Chief Client Strategy Officer at TPT Retirement Solutions, said:
“We are excited to be at the forefront of pension innovation in the UK. Making CDC accessible to all employers, regardless of size, is a significant step forward for the industry. For interested employers, offering a CDC scheme could become a powerful tool for talent attraction and retention."

David Lane, Chief Executive of TPT Retirement Solutions, said:
“The pensions industry is at a point where innovation is critical. We believe there is a clear opportunity for CDC schemes to fill a gap in the pensions market and could be the right solution for many employers and scheme members. Our track record in managing large-scale, multi-employer pension schemes means we are well-placed to lead this transformation.”

Minister for Pensions, Torsten Bell MP, said:
“I am delighted to see TPT confirming plans for a multi-employer CDC scheme, just days after I set out the timeline for new legislation to enable these new types of pension schemes."