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Collective defined contribution schemes (CDCs) were introduced by the Pension Schemes Act 2021, combining elements of defined benefit (DB) pensions with aspects of defined contribution (DC) schemes to offer a middle path that has been described as a ‘third way’ or ‘halfway house’.

Women aged 50-59 earned an average salary of £30,603 which was £7,274 less than men in the same age group.

Women in their 50s are most affected by the gender pay gap.

Women in their 50s are most affected by the gender pay gap.

Women aged 50-59 earned an average salary of £30,603 which was £7,274 less than men in the same age group.

Women aged 50-59 earned an average salary of £30,603 which was £7,274 less than men in the same age group.

Women in their 50s are most affected by the gender pay gap.

Women aged 50-59 earned an average salary of £30,603 which was £7,274 less than men in the same age group.

Women in their 50s are most affected by the gender pay gap.

Women in their 50s are most affected by the gender pay gap.