DB superfunds infographic – transcript
This is a transcript of the graphic intended for defined benefit (DB) trustees and employers to consider if thinking of transferring to a superfund.
Quick guide for DB trustees and employers: what to consider if you’re thinking of transferring to a superfund
For important information, read our full guidance on DB superfunds.
Trustees
We expect trustees to:
- speak to us at an early stage if analysis shows a superfund could be right for you
- consider the options available to the scheme
- undertake due diligence on the superfund
- keep members informed throughout the process
- obtain independent professional advice
- demonstrate the transaction meets gateway principles
Employers
We expect employers to:
- provide any funding needed to meet entry price and facilitate the transfer
- gather and provide information needed for a clearance application
- support trustees with everything they need to consider the transfer
- take professional advice when considering a transfer
Gateway principles
- A transfer to a superfund should only be considered if the following principles are met:
- the scheme cannot afford to buy out now
- the scheme cannot afford to buy out in the foreseeable future
- the transfer improves the likelihood of members receiving full benefits