DWP publishes 'superfund' consultation

Trustees Agenda posted on 7 December, 2018

The DWP has released a consultation looking for opinions on a new legislative framework for authorising and regulating DB 'superfund' consolidation schemes. This had previously proposed in the Protecting Defined Benefit Pension Schemes paper published earlier in the year. Within the consultation, the Government has detailed its proposed definition of superfunds and has indicated that it intends to the give the Pensions Regulator powers to oversee the authorisation of consolidators entering the market and conduct a basic set of checks on schemes that wish to join a superfund.