The Pension SuperFund Reacts to The Pension Regulator’s Announcement on Pension Superfunds
In response to The Pensions Regulator’s announcement overnight, please find listed below reactive comment from https://thepensionsuperfund.com.
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The Pension SuperFund CEO’s Statement
Luke Webster, CEO at The Pension SuperFund said, “I am delighted that The Pension Regulator has now formally announced the details of the framework within which The Pension SuperFund can now accept the transfer of schemes.
Rightly, TPR has taken a hard stance on security, resulting in a very high bar indeed. I give them great credit for producing a set of guidance which ensures that superfunds such as The Pension SuperFund will be providing a gold-plated solution to the market and that members will be extremely safe. This should be a huge reassurance to trustees.
The framework which has been handed down today strikes a tough but sensible and sustainable balance which meets the needs of scheme members, the sponsoring employer, The SuperFund investors and the wider economy, including enabling us into invest in the UK’s long term infrastructure.
Since we developed our proposals in 2017, at the government’s request, we’ve been passionate about the positive outcomes we can deliver for pension scheme members and businesses alike. I am delighted that we now have the chance to play our part in transformative and long overdue improvements in the way defined benefit pensions are organised, capturing the strengths of the existing system while attracting fresh capital to secure member benefits and allowing businesses to focus on generating the growth our economy needs more than ever.
Development of this framework has been a long road, and I salute the patience and steadfastness of all involved across the industry and government. I’m immensely grateful to The Pension SuperFund team, our trustees and our investors, in particular my dauntless co-founder, Edi Truell, who have stayed the course and enabled us to be ready to realise The Pension SuperFund’s potential. We look forward to delivering lasting and worthwhile change.”
Please view the statement in full by clicking here.
Best regards,
James
