What is DB Multi-Trust?
Using our experience and expertise in running schemes under a master trust structure, we created a DB Multi-Trust, allowing schemes to benefit from consolidation but retaining their trustee board should they wish.
Much like a master trust, DB Multi-Trust is a consolidation option that brings together defined benefit (DB) pension schemes from a number of unrelated employers under a single, professionally managed framework. Our integrated approach brings together fiduciary management, administration, covenant, actuarial, and payroll to streamline operations and reduce complexity.
The key difference between our DB Multi-Trust, compared to a master trust arrangement, is that your trustee board and legal advisers and structure remains in place.
Why choose DB Multi-Trust?
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Why choose TPT?
Our mission is to make pension schemes perform better for everyone, from trustees and employers to the members who have pension savings with us.
We're pension specialists
Pensions are all that we do. We understand them and have learned, over many years, what it takes to manage them effectively. Our teams know pensions inside and out, so you and your members don't have to, and we've invested time and money into developing the best possible systems and processes.
We're owned by a pension fund
We're owned by a pension fund, which gives us a thorough understanding of the pensions landscape and its complex regulations.
We keep things simple
TPT have the experience of working with traditional final salary schemes, through to more complicated arrangements. Our teams have the experience and confidence to understand your scheme and work with you to make it perform better for everyone. You'll always have an input into the running of your scheme, and we'll keep our discussions as clear and simple as you need them to be. With both DB Master Trust and DB Multi-Trust, your investment strategy will be aligned with an appropriate and flexible long-term target.
We're responsible investors
We provide cost-efficient investments for our employers and members, using an approach that's supported by market-leading investment strategies and a long-standing commitment to responsible investing.
It's not only the right way to work, but also an essential part of recognising financial risks and opportunities. We implement environmental, social and governance policies to secure the best outcomes, and actively engage in industry initiatives to help make a difference.
We're future focused
We manage pension schemes based on knowledge and insight, so that they can achieve better outcomes now and in the future. For the things we can't always predict, like market turbulence or new legislation, we have a long track record of adapting and innovating. It's what makes us one of today's leading pension providers and helps us to futureproof your pension scheme.
FAQs
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How is a DB Master Trust different to a DB Multi-Trust?
A DB Master Trust allows schemes to consolidate into a single, sectionalised, professionally governed structure, operating under one trust and a consistent set of rules. Services provided include: actuarial, administration, investment, covenant, trusteeship and legal. Participating schemes benefit from TPT’s scale, established governance framework and investment oversight, helping to reduce complexity and improve efficiency.
By contrast, TPT’s DB Multi‑Trust enables schemes to achieve many of the same consolidation benefits while retaining their existing legal structure, legal advisers and, where desired, their existing trustee board.
For some schemes, both a DB Multi-Trust and DB Master Trust can also form part of a longer term journey toward future transactions, such as a buy-in / buy-out with an insurance company or a transfer to a superfund, depending on individual scheme circumstances and objectives.
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Can we retain our existing trustee board when working with TPT?
Yes. Under TPT’s DB Multi-Trust, schemes can retain their existing trustee board while delegating key services such as fiduciary management, administration and actuarial. This allows sponsors and trustees to access some of the benefits of consolidation. Trustees retain strategic oversight and decision making responsibility, while TPT supports the day to day running of the scheme in line with the scheme’s specific circumstances, which can help to reduce complexity and trustee time pressures.
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How does TPT support schemes with long term planning and funding requirements?
TPT works closely with schemes to help them on their funding and strategic journey plans, support efficient use of employer contributions, and resolve data or operational issues that can delay progress. This preparation is critical for schemes considering future transactions, including a superfund transfer, buy-in / buy out, or long term run on strategy.
Through our innovative solutions, such as our DB Multi-Trust, TPT provides tailored planning, flexibility to work towards any DB endgame and sophisticated modelling aligned to each scheme’s risk profile, funding position and end game objectives, subject to market conditions and investment performance.
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How are pension assets invested within TPT’s DB Multi-Trust?
Within TPT’s DB Multi-Trust, pension assets are invested under a professionally governed fiduciary management framework designed to help schemes on their journey to endgame and ultimately try to meet payment of members’ benefits over the long term. Assets are managed using TPT Investment Management (TPTIM’s) fund range, allowing schemes to benefit from scale, diversification and access to specialist investment expertise.
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What DB endgame is DB Multi-Trust suitable for?
TPT’s DB Multi-Trust is endgame agnostic. This means no matter your endgame goal, whether its buy-in or buy-out, superfund or strategic run-on, our DB Multi-Trust is a vehicle designed to help you get there.
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