LONDON, 18 August 2021 – Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, has launched an online quiz that UK employers and pension scheme trustees can use to explore how a Collective Defined Contribution (CDC) scheme could meet their future needs.
‘Is CDC right for my scheme?’, Aon’s CDC-simplified tool, asks 10 questions that allow those currently running schemes – whether defined benefit (DB) or defined contribution (DC) – to see if a CDC pension scheme could be right for them. Based on the answers to each of the questions, respondents can also establish which ‘flavour’ of CDC might be suitable for their circumstances.
Chintan Gandhi, partner and head of CDC at Aon, said:
“Now that CDC schemes are a real option, we are seeing an increasing number of industries, organisations and pension schemes looking to gain a greater understanding of this innovative approach. They want to see whether it might be suitable for them - and, if so, in which form. There is a growing awareness that CDC provides pension savers with access to an income for life in retirement, and from fixed-cost DC savings – all without having to make complex financial and investment decisions.
“Our online quiz is a quick and simple way of navigating the CDC options that will emerge. Some flavours of CDC are likely to be more appropriate for different industries, organisations and schemes – whether they currently offer just DB, just DC, or, as with many, a combination of both. The way you answer our quiz gives a steer towards the flavour of CDC that could help address your specific needs over time.”
‘Is CDC right for my scheme?’ is available here.
About Aon
Aon plc (NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
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Colin Mayes
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