Defined benefit and master trust provider TPT has made two senior appointments to its leadership team as it looks to grow its DC business.
Philip Smith has joined the company as the new DC director, and will leads this expansion. Smith, joins from PwC, where he was head of DC. He has 30 years experience in the industry having previously also held senior roles at Buck Consultants and Opus Holdings.
TPT has also appointed Joy Mahon as its new head of DC. Mahon joins from Aviva. She has also previously worked for Aon and Willis Towers Watson, where she helped both companies develop their pension offerings.
TPT was authorised as a master trust provider last year, and has seen its DC assets climb to £1.6bn, and DC membership double over the past five years to over 240,000.
TPT chief executive Mike Ramsey says: “We are delighted to welcome Philip and Joy to TPT as we continue to develop the DC proposition we provide employers and members.
“The DC arm of TPT is becoming an increasingly important part of the business. As a leading provider of workplace pension schemes, it is important we have an offering that is up there with the best in the industry.”
Smith, adds: “I am delighted to join TPT and look forward to working with Joy and the rest of the team to develop our DC schemes.
“With the significant growth in assets the DC industry will experience over the next decade, this is an exciting time to be joining the UK’s leading combined DB and DC master trust.”