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The Government and the Pensions Regulator set out their expectations for DB consolidators

Our viewpoint

On 7 December 2018 we saw two key announcements in relation to the nascent market for DB consolidators (also known as “superfunds”):

  • The Department for Work and Pensions released its much-anticipated consultation on the regulation of DB consolidator vehicles, which proposes an authorisation framework and on-going supervisory regime for these vehicles. It also outlines, for debate, four options for assessing financial sustainability
  • The Pensions Regulator (TPR) issued guidance for both trustees and companies looking to transfer to a DB consolidator before the authorisation framework is in place (as well as guidance for the vehicles themselves on TPR’s expectations)

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