Our Pensions team has been appointed to advise the Trustee Board in anticipation of the launch of TPT's Defined Benefit (DB) Superfund. This is an innovative superfund with unique design features, and our team of experts are supporting the Trustee through the delivery of this landmark initiative.

The superfund, backed by capital to support the first £1 billion of deals, marks TPT's extension further into the consolidator market with a run-on structure that prioritises governance, flexibility, and the potential for members to gain from surplus. The superfund aims to provide schemes with an alternative endgame solution where traditional risk transfer options like insurer buy-out may not be the right fit.

Gowling WLG is working collaboratively with the Trustee Board and TPT to prepare the superfund for regulatory approval and to ensure it delivers fresh options for sponsors and trustees who want to transfer risk with enhanced security of benefits, robust governance oversight and member-focused strategies. The Trustee Board is chaired by Nadeem Ladha (Aretas Trustees) and includes leading professionals from across the industry, namely Huw Evans (Bestrustees), Kate Grant (Capital Cranfield), and Rekha Owen (Law Debenture).

The Gowling WLG team is led by Partners Ben Goldby, Christopher Stiles, Jasvir Jootla and Jason Coates with support from a wider team including Principal Associate Sian Williams and Associate Sophia Hoondle.

Jason Coates, Partner, said: "We're proud to have been selected to support the Trustee Board through the launch of this innovative superfund by TPT Retirement Solutions. This is a significant development in the UK pensions landscape. TPT's run-on superfund model provides a compelling alternative for sponsors and trustees who want to secure member benefits and ensure robust governance, whilst also preserving the possibility of upside for members."

Gowling WLG's involvement reflects its continued commitment to supporting innovation in pensions and financial services, delivering legal solutions that align with the evolving needs of trustees, sponsors, members and providers. With deep experience advising each of these parties on defined benefit (DB) and defined contribution (DC) scheme issues, pensions disputes and pensions risk transfer, Gowling WLG is ideally placed to advise clients navigating the ever-changing pensions landscape.