DB Consolidation

The Complete Picture

Running a Defined Benefit (DB) pension scheme is a complex and time-consuming process. Instead of spending time thinking about how to grow and prosper their business, Finance Directors are dedicating large chunks of time and money to a historic problem. There is a better way. Schemes are increasingly turning to a more efficient option - "DB Consolidation”

Take a look at our recent event held at The Shard below...

Get 'The Complete Picture' for your pension scheme

TPT recently held an event at The Shard, to give the complete picture of DB pension scheme consolidation. Broadcaster Andrew Marr and economist Dr Andrew Sentance, CBE spoke about the current economic and political outlook, including the impact on business and pension schemes in the UK. TPT's Mike Ramsey and Adrian Cooper both focused on how DB consolidation looks set to transform the UK pensions landscape, and how TPT can provide 'The DB Complete Solution'.

Mike Ramsey
Andrew Sentance
Andrew Marr

 The consolidation debate is gathering pace – there is political will, regulator desire and commercial momentum. Defined Benefit consolidation will come sooner than you think.Mike Ramsey, CEO, TPT Retirement Solutions

 TPT’s DB Master Trust provides a full service package for a DB scheme including trusteeship, administration, covenant, legal, actuarial and investment services.

The transfer will protect our members by securing the scheme’s governance into the future, gain access to a more diversified range of assets through the £9bn of DB assets that TPT has under management and reduce running costs significantly. These savings will be re-invested in the scheme to achieve our objective of self-sufficiency in a highly cost effective manner.
Michele Faull, Chief Financial Officer, Coventry Building Society

Professionals that run and manage a Defined Benefit pension scheme know from the DWP's white paper, 'Protecting Defined Benefit Pension Schemes', that it believes some pension schemes - smaller and medium-sized ones in particular - could benefit from consolidation.

These schemes are unlikely to be able to generate sufficient capital to benefit from economies of scale. Consolidating these schemes, in effect pooling their resources with those of others, would give them access to economies that allow them to access:

  • Better governance.
  • Better risk management.
  • Better funding of liabilities.

Video highlights from the event

DB Complete Picture Event
DB Complete Picture Event
DB Complete Picture Event

More and more DB schemes are opting to consolidate to drive down costs and drive up efficiency. But what does consolidation look like in practice?

By entrusting their DB scheme to a collective pension scheme (sometimes called a Master Trust), schemes can access and benefit from:

  • Risks managed using sophisticated investment techniques, many of which may not be available to individual schemes
  • A highly experienced trustee board providing governance oversight
  • Access to more efficient and award-winning administration
  • Tailored member communications
  • In-house legal, actuarial and covenant services
  • For each scheme, a bespoke funding and investment strategy is individually tailored
  • With over £10 billion of assets under management (AUM), we are able to achieve significant economies of scale, which are directly passed on to our members

TPT animated

TPT Retirement Solutions has over £10 billion of assets under management, and is an award-winning Defined Benefit (DB) Master Trust managing 44 pension schemes for over 2,600 employers and 300,000 members. Employers have been trusting us with their pension arrangements for over 70 years and as a not-for-profit organisation with no shareholders, any surplus we make can be used to reduce costs and improve service.  

​The DB Complete solution

To see the 'DB Complete Picture', you need the DB Complete solution. TPT's DB Complete is a full-service package for Defined Benefit schemes. It provides total reassurance for time poor FDs, Pension Managers and others who are involved in running the DB scheme. Best-in-class trusteeship, administration, investment, actuarial, legal, covenant and communications services are all housed under the one roof with DB Complete, making the process of running a DB scheme more efficient.

DB Complete Brochure

Useful Downloads

UK Pensions Awards Finalist 2018
paAwards18-logo_Pensions Administration Award
European Pensions Awards 2019 - Finalist

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