UK Corporate DB Consolidation: TPT Introduces New Superfund
Trustees and employers overseeing the UK's 5,000 corporate pension plans, which hold an estimated £1.2 trillion, now have another option to manage their defined benefit assets.
TPT Retirement Services, currently overseeing £11 billion in pension fund assets, has launched a DB superfund investing on behalf of plans seeking to 'run-on'.
- TPT's superfund will access managers through a fund-of-funds structure.
- Estimated assets under management in the new superfund could reach £3 billion in five years.
TPT's proposal offers an alternative for well-funded schemes choosing to continue as they are, rather than opt for a buy out and sell to an insurance company.
TPT's move provides another option for managing defined benefit assets, giving trustees and employers more flexibility.
Author's summary: TPT introduces a new superfund for UK corporate pension plans.
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