Regulator Updates Its Superfunds Guidance

The Regulator has published a blog in which it outlines the key areas where its guidance on DB superfunds has been updated to reflect the findings from the review conducted earlier this year. Also published is a response to the review, providing a summary of the key issues considered as part of the superfunds guidance review.

Key changes to the superfunds guidance include:

• Changes to make it easier for schemes to transfer to a superfund and clarification of how the gateway criteria are met. These are that the scheme cannot access buy-out (and has no prospect of doing so in the near future), and that the transfer will improve members' likelihood of receiving full benefits.