Super Tanker Pension Fund Approved

Published / Last Updated on 06/11/2018

An announcement for a new ‘super tanker’ company/occupational pension scheme has been given the go ahead by the government.

The collective defined contribution (CDC) pension collects workers investments into one large pension pot and could provide better pension incomes, spreading their investment risk and giving employers and pension members more flexibility and choice.

This approach is very similar to schemes that are operated in other countries such as Holland.  In short, rather than each company having its own company pension scheme and being liable for charges, deficits, management fees etc, the new ‘super tanker’ schemes would work say in a particular industry e.g. The Hotel Workers Scheme, The Care Workers Scheme, Plumbers, Finance Industry etc.  Think of a union or a professional body or trade guild and there you have the makings of a ‘super tanker’ collective pension scheme.

The economies of scale such schemes will bring are huge.  The collective buying power of thousands of employees and employers all paying into the same scheme will save administration costs, management fees and even present newer, bigger and better investment opportunities and recruit ‘star’ fund managers that perhaps a smaller company scheme could not do.

Explore our Site

About
Advice
Money MOT
T and C