The Pension SuperFund (PSF), the UK pension market’s first ‘consolidator’ fund for defined benefit (DB) schemes, has appointed former non-executive director of the Pensions Regulator Board (PRB) Margaret Snowdon to its board of trustees.
Snowdon spent four years at the PRB up to May 2020. Prior to that she was a member of the governance committee of UK life and pensions consolidator Phoenix Group and is a former vice president of the Pensions Management Institute, the industry’s professional body.
“This appointment further strengthens a high-class roster of pension professionals to ensure first-class leadership and governance for what is a very exciting time for the superfunds landscape,” said Richard Wohanka, chairman of the board of trustees.
The PSF was established in June 2020, following approval from UK regulators. It is headed by co-founder and managing partner Luke Webster, winner of the 2020 Funds Europe award for European Institutional CIO.
The PSF’s premise and that of other so-called ‘superfunds’ is that the various company DB schemes may be better served as part of a larger pooled fund.
Snowdon’s addition to the board follows the recent guidance issued by the industry watchdog, the Pensions Regulator, for trustees and employers considering transferring their DB schemes to a superfund, a move which was welcomed by the PSF.
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