TPT Retirement Solutions, the UK-based provider of defined benefit (DB) and defined contribution (DC) workplace pension funds, has appointed the board of trustees for its superfund designed to run on.
The board will be chaired by Nadeem Ladha, partner and professional trustee at Aretas Trustees. Ladha will be joined on the board by Rekha Owen, professional trustee at Law Debenture, Huw Evans, director at BESTrustees, and Kate Grant, trustee director at Capital Cranfield.
The appointment of the board comes as TPT prepares for The Pensions Regulator’s (TPR) assessment of its superfund proposition.
Ladha has more than 20 years of experience in the pensions industry. He is a founding partner of Aretas Trustees and has previously worked as a senior advisor to both trustees and sponsors at Hymans Robertson and PwC, before moving into professional trusteeship at 20-20 Trustees (now Vidett) in 2018, where he led on strategy and innovation across the firm.
Owen brings more than 25 years of experience in the investment industry to the board of trustees, with expertise in private markets, investment consulting, fiduciary management, and financial regulation. Owen spent nearly 20 years at Mercer, where she most recently led their alternative investments business in Canada.
Evans is a trustee to seven pension schemes and chairs six of these trustee bodies – two of which he sits on as sole trustee. Huw holds the Pensions Management Institute’s Award in Pensions Trusteeship for both DB and DC pension schemes. Grant, meanwhile, has 30 years of experience in the pensions and reward industry, and managed a wide range of DB and DC schemes ranging in asset size from £200m all the way to £6bn.
TPT expects the board will provide it with industry-leading guidance, bringing a demonstrable range of skills and a breadth of knowledge that will ensure the scheme is well governed and run in the best interest of its members.
TPT’s superfund proposition, meanwhile, will broaden the company’s range of endgame solutions available to both employers and trustees. Unlike the existing Clara superfund, which targets buyout, the TPT’s proposition targets run on.
The superfund will launch with capital to support the first £1bn of transactions.
Ladha said: “I, along with the rest of the board, think there is a real opportunity here to do something that’s innovative and which ultimately holds the best interests of members at its heart.”
Nicholas Clapp, chief commercial officer at TPT Retirement Solutions, added: “It’s important to have the board in place now as we move into TPR assessment.”
He added: “At TPT, we believe consolidation vehicles such as this provide better outcomes for members. They benefit from economies of scale and help to achieve better value for money, aligning with The Pension Regulator’s ambitions for fewer, larger, well-run schemes.”
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