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Pensions: Interim Guidance for “Superfunds”
18 June 2020
Type
Written Ministerial Statement
Department
Department for Work and Pensions
At a Glance
Issue Summary
This statement addresses the publication of an interim regulatory regime for Defined Benefit Pension 'superfunds' by The Pensions Regulator.
Action Requested
The government will continue to develop a permanent regime, informed by experience during the interim period and responses to the consultation, ensuring protection for pension scheme members and the Pension Protection Fund. The guidance is now available online for access.
Key Facts
- A superfund is a privately funded consolidation vehicle taking over pension liabilities from sponsoring employers.
- Employers must pay an upfront sum to improve funding levels before entering a superfunds.
- This interim regime will be reviewed by the government and may be adjusted if necessary.
- The guidance can be accessed at https://www.thepensionsregulator.gov.uk/en/document-library/regulatory-guidance/db-superfunds.
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