Collective Defined Contribution consultancy

CDC is finally here!

Defined Benefit (DB) pensions have given employers headaches in recent decades. Volatile financial markets and regulatory change have led to increased costs and risks for employers with DB schemes.

With Defined Contribution (DC), on the other hand, it’s the scheme members who get the headache. These individual-based saving pots make it impossible to work out exactly how much to contribute, resulting in unpredictable retirement income.

CDC is a fundamentally new type of pension scheme, offering advantages to employers and members alike:

  • No risk of cost increases for the employer
  • Higher and more reliable retirement income for the member, compared with DC.

Register for a free CDC training session

We are offering a complimentary training session to any organisation interested in what CDC can offer. We’ll take you through the basics and give you ample opportunity to discuss how it could work for your organisation or scheme.

Why First Actuarial?

First Actuarial is at the forefront of introducing CDC schemes in the UK.

When Royal Mail proposed replacing its DB pension fund with individual DC arrangements, the Communication Workers Union (CWU) enlisted the help of First Actuarial. We proposed the idea of CDC to Royal Mail and played an instrumental role in the successful negotiations that followed.

As a result, Royal Mail is now introducing the UK’s first CDC scheme, which will provide a career-average pension of 1/80 of pay for each year’s service.

Our pioneering role makes us the best people for you to work with on CDC. We will give you more choices of ideas and designs than any other consultancy.

Get in touch

Find out more about CDC and the complimentary training session we’re offering. Get in touch with one of our CDC specialists today.

First Actuarial stood shoulder to shoulder with us, and together with Royal Mail we’ve helped make CDC happen. I can’t speak highly enough about First Actuarial – their people have been brilliant. The journey has been inspirational, nothing but a positive experience.

Terry Pullinger, Deputy General Secretary (Postal), CWU

First Actuarial case studies

Royal Mail

The Communication Workers Union (CWU) enlisted the help of First Actuarial when Royal Mail proposed replacing its Defined Benefit pension fund with individual Defined Contribution arrangements.

“I can’t speak highly enough about First Actuarial – their people have been brilliant. The journey has been inspirational, nothing but a positive experience.”


Watford Community Housing

The risk of a significant cessation debt hung over Watford Community Housing (WCH) as the number of its employees participating in the Local Government Pension Scheme (LGPS) diminished. WCH asked First Actuarial to find an approach to mitigate this risk.

"First Actuarial are very approachable. They’re good at helping managers and Board members digest a very complex and difficult area, and they’ve also been proactive in helping us shape an innovative solution."



First Actuarial partnered with Bromford to communicate extensive pension scheme changes and improve financial wellbeing, delivering more than 40 group presentations to 1,200 colleagues.

"Working with First Actuarial was a highly professional partnership that had a positive effect on our colleagues. We received great feedback on both the group and one-to-one sessions they ran."

See all our case studies
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