The Government and the Pensions Regulator set out their expectations for DB consolidators
Our viewpoint
11 December 2018
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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