TPT Retirement Solutions has appointed Andrew Sheavyn as business development manager to support the rollout of its Collective Defined Contribution (CDC) proposition and drive growth in its defined contribution (DC) business.
Sheavyn joins from Smart Pension, where he spent seven years, most recently as business development director. Earlier in his career, he worked at Capita Employee Solutions and Legal & General.
In his new role at TPT, Sheavyn will report to Adam Tudor, head of DC distribution, and focus on new business development across TPT’s DC and CDC offerings.
As part of its broader growth strategy, TPT is expanding its full suite of consolidation options, with its new DC proposition – launched earlier this year – and its forthcoming CDC scheme forming key pillars of its plans.
The UK’s first multi-employer CDC scheme, announced in May, is expected to complete authorisation by the end of 2026, ahead of a planned 2027 launch. TPT said Sheavyn will play a “major role” in bringing the CDC proposition to market.
Tudor said: “With Andrew’s expertise, we are well placed to continue our innovation with our DC and CDC offerings, ensuring we continue to meet the evolving needs of our clients and members.”
Sheavyn added: “The organisation is leading the way with innovative DC and CDC solutions, and market-leading member experience.”
CDC progress
Speaking to IPE last month, Andy O’Regan, chief client strategy officer at TPT, said the pension manager expects to deliver the CDC scheme in 2027.
He said the timeline aligns with the forthcoming multi-employer CDC regulations, due to be laid in parliament later this year, alongside guidance from the regulator. TPT is allowing around six months to complete the authorisation process.
“At the moment we’re working hard setting everything up – investment strategy, benefit design, getting all the documents ready for authorisation as well as speaking to employers about joining the scheme,” O’Regan said.
While CDC regulations were delayed under the previous parliament, O’Regan said he does not expect further delays, noting the model remains firmly on the Department for Work and Pensions’ regulatory roadmap.
He added: “We don’t think there’s a squeeze on timing, because we’re allowing a significant block of time at the end of next year to do the authorisation. We’ve got sufficient time.”
O’Regan said that by the time TPT submits its authorisation in 2026, he expects several employers to have already committed to join from launch in 2027.
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