I may be thought of as jumping horses in the midst of the race. This idea of Punter Southall’s was an idea I was promoting with Pension Superfund for some years. The Pension Superfund has run its course but not the idea.

There is a resilience to Richard Jones, Punter Southall and Pension Safeguard Solution.

Though I have no part in the capital backed journey plans , Richard is looking for DB schemes to embark upon, I hope they happen and that the capital give trustees and sponsors the confidence to use the scheme to grow companies and people’s pensions.

The surpluses that sit in 75% of pension schemes today is of course a matter of accountancy (just as much about the deficits of the past decade were). But resource to the capital of Carlisle as a buffer makes capital backing a means for action.

As a consumerist, I would like to see pensioners and those not in pensions but in DC saving plans, benefit from the surpluses. But I see advantage even to consumers, of the surplus being reinvested to grow the sponsor. “Grow” means improving the security as well as the returns to shareholders, of a private company. The word “safeguard” in the title of the journey reminds me that defined benefits in  pensions provide a guarantee of income while still investing for growth.

So , without a personal involvement in Pensions Safeguard, I promote it here as part of a series of innovations in pensions that include the consolidation of DB pensions through superfunds and of course the building of future-earned benefits through CDC.

To suppose that these ideas compete is ridiculous. These ideas sit happily beside each other and for a proper market to form, there need to be more like it. The sad demise of Pension Superfund has made way to Pension Safeguard and to a number of similar proposals that are knocking at the door of TPR for authorisation.

I hope we will see more of these capital backed superfunds authorised; justas I hope we will see more CDC proprietors working together  for the good of the consumer – promoting pensions not just pots.