Skip to main content

Your browser is out of date, and unable to use many of the features of this website

Please upgrade your browser.

Ignore

This website requires cookies. Your browser currently has cookies disabled.

DB superfunds list and assessment

Details of the assessment process and current list of DB superfunds.

We will shortly publish a list here for trustees considering transferring into a superfund.

See our superfunds guidance for trustees and employers for full details of the assessment areas and process.

Published: 21 October 2020

The assesment process

The superfunds on the list below:

a. have been assessed against our key expectations in the following areas of our superfunds guidance:

  • People
  • Governance
  • Systems and processes
  • Financial sustainability mechanisms and processes in respect of business plans, costs, assets and liquidity plan, investment governance and risk management (see note 1)

b. met the key expectations in the guidance at the date of assessment in respect of the areas listed above

c. are now in TPR relationship supervision (see note 2)

d. are schemes in respect of which we would consider clearance applications.

Following assessment and inclusion on the list, superfunds will be subject to a further assessment when we are notified of an intended transfer into it.

The focus of the further assessment is on:

  • aspects of financial sustainability not assessed under point a
  • capital adequacy (ie assets against liabilities) (see note 1)
  • the changes or development of a superfund’s systems and processes which have taken place since the original assessment
  • material changes to the superfund since the original assessment

Where we have concerns about a superfund during or following the further assessment, it may be removed from the list.

Due diligence

If the superfund you are considering is included on the list below, it is vital that you still carry out your own thorough due diligence to:

  • fulfil your own duties as trustees
  • satisfy yourselves that any particular superfund is the right choice for your scheme.

You should check with a superfund, as part of your own due diligence:

  • the summary outcome of our assessment (we provide this to the superfund for them to share);
  • whether any material changes have taken place since the date of assessment.

We would emphasise that inclusion on this list does not give any guarantee that a transfer to any particular superfund will be given clearance.

Where a superfund is added to the website list, but at any stage subsequently:

  • does not meet one or more of the key expectations set out in our superfunds guidance, and/or
  • we decide we will not consider applications for clearance in respect of a transfer to that superfund,

the superfund may, following consideration, be removed from the website list.

You should recheck this website at regular intervals to ensure you have the most up-to-date information. Please contact superfundenquiries@tpr.gov.uk if you have queries about a superfund not on this list.

The list will be published here shortly.

Note 1: We are only able to assess capital adequacy (ie assets against liabilities) during the further assessment – ie when a specific transfer is proposed.

Note 2: Relationship supervision involves the superfund engaging with us on a regular basis. This will include the superfund providing information to us in relation to the expectations set out in the guidance. If we have concerns with any aspect of a superfund, we will work closely with it, with the aim of resolving those issues. In some circumstances, we may ultimately consider using our statutory powers.