TPT Retirement Solutions has appointed an independent board of trustees for its new defined-benefit superfund, which will be chaired by Nadeem Ladha, partner at Aretas Trustees, according to a news release.
The board’s formation is a key step ahead of the pensions regulator’s assessment of TPT’s superfund proposition. The board will guide TPT’s superfund, designed to run-on and offer a route for schemes that remain short of full funding, while supporting growth investment. The move follows TPT’s May announcement of a multi-employer CDC proposition and the recent launch of a defined-contribution income-for-life product, positioning the firm as a pioneer in pension consolidation.
Joining Ladha on the board are Rekha Owen of Law Debenture, Huw Evans of BESTrustees, and Kate Grant of Capital Cranfield. Ladha, an accredited professional trustee and actuary, has more than 20 years’ experience, including roles at Hymans Robertson, PwC and 20-20 Trustees (now Vidett). Owen brings 25 years in investment management, including serving nearly two decades at Mercer. Evans already chairs six pension schemes and holds the Pensions Management Institute’s Award in Pensions Trusteeship, while Grant has more than 30 years’ experience managing DB and DC schemes up to £6B.
“This board’s expertise will help achieve the best outcomes for members, providing scale, value and governance that align with TPR’s ambitions,” said Nicholas Clapp, TPT’s chief commercial officer, in the release.
