TPT Retirement Solutions one of the leading pension scheme consolidators in the UK, is launching DB Connect, a new solution that enables pension schemes to receive many of the benefits of consolidation without having to join a Master Trust.
DB Connect enables schemes to access fiduciary management, actuarial, covenant, administration, accounting, and secretarial services, whilst retaining its existing scheme structure and trustee board. Joining DB Connect removes complexity and cost and still allows TPT to offer an integrated holistic approach to scheme management. It will also streamline governance and provide focused decision-making through a single point of contact for trustees. The DB Connect offering will sit alongside TPT’s existing Master Trust.
Fiduciary management services for DB Connect will be provided by TPT Investment Management Ltd (TPTIM), its FCA authorised subsidiary. Built on the scheme consolidation model, TPTIM will pool assets to deliver greater value and responsible investing options for the benefit of corporate pension schemes. TPTIM will use collectives to aggregate the assets overseen by TPT with those of external pension schemes, generating immediate scale benefits across a wide range of asset classes. This will enable schemes to benefit from reduced fees through economies of scale, improved governance, and investment expertise.
Nicholas Clapp, Business Development Director, TPT Retirement Solutions said:
“We’re really excited to be launching DB Connect, an innovative new proposition that is underpinned by a very different approach to helping schemes. DB Connect will provide any scheme that wishes to appoint us access to most of the benefits of consolidation as part of an integrated service proposition, but without having to move into our DB Master Trust. The result for schemes will be more nimble strategic decision-making, combined with the benefits of our integrated service such as reduced running costs, economies of scale, greater efficiencies, access to specialist investments, with the additional benefits of fiduciary management.”
David Lane, Chief Executive, TPT Retirement Solutions said:
“We remain staunch advocates of the Master Trust model and will always champion the benefits of consolidation. However, one size doesn’t fit all, and joining a Master Trust may not be the preferred option for some schemes. DB Connect offers trustees the ability to retain legal responsibility for the overall delivery of member benefits while generating efficiencies through scale and access to best-in-class pension scheme investment management capability. This will provide better value to the schemes, incorporate the highest levels of stewardship and, ultimately, deliver better outcomes for members.”
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