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Some pension savers could see their retirement funds boosted as part of UK Government reforms enabling more people to save in big, collective pots. Regulations for collective defined contribution (CDC) schemes are set to be laid, to allow their expansion to more employers. ‌

The initiative enables employers to pool multiple pension schemes into a collective fund, giving workers regular pension payments for life. The UK Government said the funds can potentially offer more security and higher average incomes throughout retirement, when compared with people saving into individual pension pots. ‌

Collective defined contribution schemes could potentially boost retirement incomes by up to 60 per cent, it added. Pooling funds enables schemes to make bigger invest

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