Tontine Trust

Tontine Trust is a Fintech company proposing to provide pension benefits on a digital platform, based on the "tontine" principle in which subscribers pool their longevity risk in contrast with annuities.

Tontine Trust
TypeFintech
IndustryPensions
FounderDean McClelland
Headquarters
Ireland
Area served
European Union
Key people
  • Dean McClelland
  • Richard Kent
  • Richard Kelly
  • Michael Neish
ProductsTontine Pensions
Number of employees
20
ParentNone
Subsidiaries
  • Tontine Pension Trustees DAC
  • Tontine Pension Administration Platform Ltd
  • The Tontine Association CLG
Websitetontine.com

History

Tontine Trust was founded as a Gibraltar-based blockchain project in Q3 2017.[1] The project promoted a token named the TON which would be used as a clearing currency.

The project received criticism in the press [2] on several critical areas, including misrepresentation of product readiness, regulatory approval, and market suitability.

After an initial token sale in Q1 2018, the project continued with marketing efforts but no subsequent product was released. [3]

Awards

Tontine Trust has been nominated for the Innovation Award at the European Pensions Awards 2021.[4] This award allows organizations to self-nominate. [5]

Trademark

The company was granted a European trademark for tontines as a pension product. The trademark includes the phrase "Live, Long & Prosper" which initially drew opposition from CBS Studios; however, CBS withdrew their opposition.[6]

Media coverage
  • McCrum, Dan (20 February 2018). "Someone is wrong on the internet: tontine tokens". Financial Times. I'm a financial journalist and author. I've also spent more than three decades working in, and writing about, finance. While a tontine is a well-established actuarial device, adding ICO tokens to it is utter madness. Mark my words, the only people to enjoy enhanced returns from this hare-brained scheme will be its founders. Avoid like the proverbial plague!
  • "Bringing Tontines back from the Dead with Dean McClelland" (Interview). Interviewed by Max Wiethe. New York: Real Vision. 17 February 2020.
  • Wolf, Sandra (3 September 2020). "Are tontines the solution to the decumulation conundrum?". Mallowstreet. People out there at the moment are terrified of living longer. It's like a game of Russian roulette.
  • Mitchell, Olivia S. (30 January 2018). "Fintech's Answer To The Global Retirement Crisis". Forbes. Fintech innovators have the multi-trillion-dollar global retirement income market in their sights.
  • Ye Han, Jasmine (8 December 2017). "Tontines Meet Blockchain: Something Old Could Be New Again". The Bureau of National Affairs, Inc. Archived from the original on 25 April 2019. State and local governments will start doing tontine pensions first because they're not subject to ERISA.
  • Pechter, Kerry (14 December 2017). "The Crypto-Capitalist and His Digital Tontine". Retirement Income Journal.
  • McCrum, Dan (20 February 2018). "tontine tokens update". FT Alphaville.

References
  1. "Tontine Trust – Live Long & Prosper". Retrieved 23 November 2022.
  2. "Someone is wrong on the internet: tontine tokens [Update]". FT.com. Retrieved 23 November 2022.
  3. "Tontine Trust".
  4. "European Pension Awards 2021 - Shortlist". Perspective Publishing. Retrieved 2 September 2021.
  5. "European Pension Awards 2023 Nomination Form". Perspective Publishing. Retrieved 2 September 2021.
  6. "Tontine Trust – Live Long & Prosper". European Union Intellectual Property Office (EUIPO).
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