Superfunds Are 'Plan B' For Pension Schemes, Lawyers Say
By Irene Madongo (November 24, 2021, 12:44 PM GMT) -- Leading U.K. law firms believe that defined benefit pension schemes with weak sponsors should seriously consider moving to so-called superfunds rather than turning to the national compensation program or buy-outs, Willis Towers Watson said on Wednesday.
The broker said that nine of 11 top law firms it surveyed believe that trustees of retirement plans should consider preparing a "Plan B" in case their sponsoring employer fails or becomes weak. Superfunds are schemes that work by consolidating defined benefit plans, which many employers are leaving because they are expensive to run.
The law firms, surveyed between September and October, include Baker McKenzie, Slaughter...
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