The Pension SuperFund welcomes new TPR guidance for Trustees and employers considering DB superfund transfer

The Pension SuperFund (“PSF”) today welcomes the publication of further guidance by The Pensions Regulator (“TPR”), setting out their expectations which will be relevant to both Trustees and employers currently considering the transfer of their DB pension scheme to a superfund structure.

Luke Webster, co-founder and Managing Partner of The Pension SuperFund, commented:
“We are very pleased to see this update by The Pensions Regulator and its additional guidance to Trustees who are exploring moving their DB pension scheme to a superfund structure.”

“It very clearly describes the steps which Trustees need to take. In particular, we are pleased to see TPR saying that Trustees can take comfort from TPR’s assessment of superfunds and that they do not expect Trustees to replicate it: this is key to keeping transfer costs low and making superfunds widely accessible.”

Webster continued: “This guidance is timely, coming, as it does so soon after the PLSA released its research which found that, of the 129 member organisations it interviewed, 48% identified superfunds as the ‘most significant future trend’ in pensions.”