With the TPR’s guidance to Trustees and Sponsors published on 21st October, we now have clarity on an exciting option for end-game settlement of DB pension liabilities.
Superfunds are here, and they are here to stay
The development of Superfunds has been my world for two years, firstly at Clara-Pensions and now at The Pension SuperFund. At close quarters I have seen the depth, thoroughness and tough stance of the TPR’s interim regime develop step by step. I have also seen upwards of 400+ DB schemes, about 8% of all the remaining DB schemes, consider such a transaction in anticipation of the impending green light from TPR which will allow many of them to transact. That’s a much-underestimated number of pension schemes which have already shown an early interest in the Superfund option. As best as I can tell, and credit to XPS here, I’m sure 400+ is at least double the number of DB pension schemes that have bought out over the last 14 years.
Article written by Jason Kenny, Origination for PSF. To read the full article click here