TPTIM signs up first external fiduciary management client

Dalriada Trustees joined TPTIM’s fiduciary platform effective 1 October 2025. This marks the first time TPTIM has co-signed a Fiduciary Management Agreement with an external trustee.

Dalriada will receive fiduciary management services through TPT’s DB Connect service. This multi-trust solution enables pension schemes to receive many of the benefits of consolidation without having to join a Master Trust, and sits alongside TPT’s existing Master Trust and standalone fiduciary management offering.

DB Connect gives clients access to TPT’s fiduciary management, actuarial, covenant, administration, accounting, and secretarial services, whilst retaining the existing scheme structure and trustee board. As a result, trustees retain responsibility for the overall delivery of member benefits, while generating efficiencies through access to TPT’s scale and best-in-class pension services.

TPTIM currently manage over £7bn of DB pension assets on behalf of 66 DB schemes within TPT’s Master Trust. These assets have been aggregated into a range of TPT collective investment funds, populated with best-in-class external managers. This has created a range of individual building blocks so that schemes of all sizes can benefit from TPT’s scale, which includes access to a wider range of investments, tailored investment strategies and reduced management fees.

Chris Dickins, Client Director at TPTIM, commented:

“We’re delighted to welcome Dalriada Trustees as our first DB Connect client. Our multi-trust is an innovative proposition that includes our proven investment expertise and which is underpinned by a strong service culture that stems from being owned by a pension fund. We are very much looking forward to working with Dalriada Trustees on achieving their objectives for Paradigm Housing’s pension plan."

Charles Ward, Managing Director at Dalriada Trustees, commented:

“We’re happy to be using DB Connect to benefit the members of Paradigm Housing’s Defined Benefit Pension Plan.  Dalriada is constantly looking for ways to improve service to our clients and members, and DB Connect’s approach allows us to deliver excellent service to the members we serve, maintain our responsibilities as Trustee, and manage costs for the Scheme.” 

Notes to Editors

TPT Retirement Solutions (TPT) is one of the UK’s leading providers of workplace pensions with over 75 years’ experience of managing defined benefit and defined contribution pension schemes. It has £11.1 billion of assets under management (as at 30 September 2024) and more than 470,000 members.

TPT’s mission is to make pension schemes perform better for everyone, from the sponsoring employers and trustees to the members who are saving for the future. It is an innovative, forward-thinking organisation, investing in technology to improve the services they provide. TPT is ultimately owned by a pension fund, providing genuine alignment of interests with those of its clients and scheme members.

Our ownership

TPT Retirement Solutions Limited is wholly owned by Verity Trustees Limited in its capacity as trustee of The Pensions Trust.

TPT Investment Management Limited is a wholly owned subsidiary of TPT Retirement Solutions Limited.

Group Services & Regulation

Verity Trustees Limited is the corporate trustee of The Pensions Trust and The Pensions Trust 2016. It is a company limited by guarantee and is regulated by The Pensions Regulator. Registered in England and Wales under company number 00744017. Registered office: 5th Floor 3 South Brook Street, Leeds, England, LS10 1FT.

TPT Retirement Solutions Limited provides pension management and administration services to UK pension schemes. Registered in England and Wales under company number 09639961. Registered office: 5th Floor 3 South Brook Street, Leeds, England, LS10 1FT.

TPT Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FCA) and provides investment management and consultancy services to UK pension schemes. Registered in England and Wales under company number 14527587. Registered office: 5th Floor 3 South Brook Street, Leeds, England, LS10 1FT.