Capital-backed consolidators, or 'superfunds', are vehicles for defined benefit (DB) pension schemes to secure their members’ benefits, while breaking the link to the sponsoring employer. They can therefore offer a valuable endgame option to DB schemes in some circumstances, as an alternative to the traditional options of either a long-term run-off or buying out liabilities with an insurance company.

However, superfunds will not be right for all schemes. Trustees and employers will need to be satisfied that transferring to a superfund is in the scheme members’ best interests, taking into account the guidance published by The Pensions Regulator and the other endgame options available.

We are leading advisers in the developing superfund market, having been closely involved in researching and working with the main providers since their inception. We are therefore well-placed to help you decide whether a superfund is the right DB consolidation option for your scheme, drawing on our actuarial, investment, administration and transaction expertise.

Read all the latest on DB consolidation below.


DB pension consolidation: where next?

The Government’s Mansion House agenda has sought to ruffle a few feathers within the pensions industry and unlock pension scheme assets to bolster the UK economy. But there is already a model out there – the long-term consolidator or 'superfund' – that could achieve everything the Government is looking for. 

3 October 2023

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DB superfunds: preparing for lift-off!

The announcement on 30 November 2021 that Clara-Pensions had become the first 'superfund' vehicle to complete its initial assessment by the Pensions Regulator (TPR) was a long awaited milestone for the defined benefit (DB) pensions industry. 

21 April 2023

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DB superfunds - an alternative endgame?

Despite the protections offered by TPR’s tough new regime, assessing whether or not a superfund is the right destination for a given pension scheme will not be an easy decision.

20 December 2021

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DB consolidation: what options are available?

Our infographic is your at-a-glance guide to understanding DB scheme costs, consolidation options and how to choose the best course of action. 

12 May 2021

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Navigating your endgame: the DB superfunds junction

Learn more about what the first defined benefit (DB) superfund transactions will look like and see how you can set a long-term objective with a superfund transaction in mind.

11 February 2021

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