Established in March, The Pension SuperFund is an independent organisation created to offer an affordable, alternative solution to employers of under-funded defined benefit pension schemes. The issue of pension deficits has been well publicised and around 11 million members could be at risk.
The SuperFund accepts bulk transfers from existing defined benefit pension schemes to consolidate them into one large occupational pension scheme, thereby spreading risk and offering lower costs and additional stability.
“The government and the pensions industry has been looking for innovative ways to ensure sufficient funding to meet the financial promises of defined benefit pension schemes for some time,” said Antony. “These deficits are holding back businesses and of course, impacting on the retirement plans of millions of members. The trustee board will maintain the highest standards of governance and safeguarding for these members.”
Antony who has been Chief Executive of 2020 Trustees since 2013, is an expert in PPF related scheme compromises and regulatory apportionments and has worked closely with The Pensions Regulator on a number of high profile cases. He was named Pensions Manager / Trustee of the Year in 2017 and 2020 Trustees was named Independent Trustee Firm of the Year in 2018.
A third independent trustee is currently being recruited for The Pension SuperFund as the business begins to move forward and more announcements on senior appointments are expected shortly.