The future of DB pension consolidation

News | Updated: 14.12.18 Share this:
Adrian Cooper speaking at Professional Pensions Breakfast BriefingIn October, Professional Pensions held a defined benefit (DB) breakfast briefing in partnership with TPT looking at what the future holds for consolidation.

Consolidation was a central theme in the government’s DB white paper, published in March, which said that on average smaller schemes are more likely to have higher administrative costs and fail to meet governance standards. It argued consolidation could help schemes, and is now consulting on a range of proposals to boost consolidation including the introduction of a new accreditation regime and legislative framework.

The panellists looked at the benefits of consolidation and compared the various ways to do it. They also discussed the key considerations for trustees and sponsors that may be considering it.
Responsibilities seem to be moving to HR departments. Skilled DB administrators are in short supply. I see actuaries that are becoming investment consultants or moving to insurance companies.Adrian Cooper, Head of Direct Distribution at TPT

To download the full article please click here.

To find out more about DB Complete and how it could help you and your business please contact:

Adrian Cooper
Head of Direct Distribution
Tel: 07545 044010
Email: adrian.cooper@tpt.org.uk

Related news & insights

TPT’s recent enhancements to their DB Online tool have increased engagement among members, uptake of the platform has increased fivefold, from 4,500 to over 27,000 during 2018.

Sharing the load

17 Dec 2018
In the December 2018 issue of PensionsAge, Darlington Building Society finance director, Chris White, talks about transferring its legacy DB scheme to TPT Retirement Solution’s master trust.
TPT has enjoyed a record year in 2018 with the growth in assets being underpinned by excellent investment performance and new scheme wins.