Industry says a public sector consolidator should be aimed at small, fully funded schemes
XPS says PPF could support viable DB schemes with insolvent sponsors to reach buyout
Government to consult on easier surplus extraction and public consolidator
Industry thinks current regulatory framework could better enable open schemes to ‘thrive’
Move come as consolidator prepares to conduct first transactions
Companies are increasingly looking to consolidators, superfunds and other sophisticated financial structures to help remove their defined benefit (DB) liabilities, The Pensions Regulator (TPR) says.
Pension Insurance Corporation has reiterated its call for the establishment of a new consolidation vehicle, run by a not-for-profit agency, to target smaller underfunded schemes with weak sponsors.
The investment portfolios of consolidators could be more resilient to market shocks than the typical insurer portfolio, latest research by Redington reveals.
A regime similar to that for defined contribution (DC) master trusts will be set up for regulating defined benefit (DB) consolidators under plans announced today.
With DB consolidation vehicles set to take the limelight, James Phillips speaks to Clara co-founders Adam Saron and Kim Toker about the fund's model, ambition and wider views