Medicash transfers £20m DB scheme to TPT

Medicash has transferred its defined benefit (DB) scheme to TPT Retirement Solutions' DB Complete master trust, improving the security of member's benefits. The not-for-profit organisation acquired the healthcare cashplan provider's DB scheme, which has 174 members and around £20m of assets. With total DB assets under management of £9bn, the consolidator's DB master trust provides a full service package including trusteeship, administration, covenant, legal, actuarial and investment services. Medicash chief executive (CEO) Sue Weir said: "The transfer will improve the security of o...