Medicash transfers £20m DB scheme to TPT’s DB Master Trust

14 August 2019

The Pensions Trust publishes on its website:

“Medicash, one of the UK’s oldest and largest healthcare cash plan providers, has transferred its £20m DB scheme, which has c.174 members, to TPT Retirement Solutions DB Master Trust.

Sue Weir, CEO of Medicash said: “TPT’s DB Master Trust provides a full service package for a DB scheme including trusteeship, administration, covenant, legal, actuarial and investment services. The transfer will improve the security of our members benefits by enhancing the scheme’s governance, gain access to a more diversified range of assets through the £9bn of DB assets that TPT has under management, reduce running costs and ensure our members will continue to be well looked after.”

Ms Weir added that other DB schemes may follow Medicash and undergo this type of consolidation as the benefits of a DB Master Trust can be attractive for schemes with less than £1bn under management.”

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