Royal Mail Group announces the launch of the Royal Mail Collective Pension Plan (RMCPP), the UK’s first-ever Collective Defined Contribution (CDC) pension scheme. This landmark development comes over two years after CDC schemes were officially approved in the UK and represents a significant step forward in the evolution of pension provision.
The CDC model combines employee contributions with Royal Mail’s contribution to deliver members an income in retirement.
This launch of the UK’s first CDC pension scheme is an important milestone in the UK’s pensions landscape. The scheme will be managed by an independent Trustee Board ensuring robust governance and oversight.
Tegs Harding, Trustee Director and Head of Sustainability at Independent Governance Group said:
“It’s a fantastic achievement to see the Royal Mail Collective Pension Plan (RMCPP) launch this month. Collective Defined Contribution schemes are new to the UK and are designed around what members understand by a pension – a paycheque each month in retirement.
I’m incredibly proud to have been a trustee of RMCPP since 2021 and would like to extend a huge thank you to the team for the monumental amount of work that has gone into achieving this milestone.”
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