The Pensions Regulator has set out a new code of practice for the authorisation and supervision of the government’s new Collective Defined Contribution (CDC) pension schemes.

Digital wealth manager Verso Wealth Management has acquired high-net-worth specialist wealth manager CDC Wealth Management for an undisclosed sum.

XPS Pensions Group, the influential pension consulting and administration firm, has voiced its support for the government’s proposal to introduce Collective Defined Contribution pension schemes.

The DWP has detailed its plans today for a new occupational pension scheme - with promises that members using the Collective Defined Contribution (CDC) schemes will be ‘protected’ from excessive fees by a 0.75% charge cap.