An unnamed pension scheme has joined Clara-Pensions’ Clara Pension Trust.
Under the agreement, more than 400 members of the Scheme and approximately £40m of assets will transfer to Clara. Clara will also inject additional capital to enhance the security of members’ benefits as they begin their journey towards an insured buy-out. Members will continue to receive their full pension entitlements following the transfer.
The agreement represents the second transaction through Clara’s Small Schemes Offering, demonstrating how the superfund model can provide a practical endgame option for smaller defined benefit schemes.
Through the SSO, smaller schemes transfer into a pooled section of the Clara Pension Trust, allowing the costs of running the section to be shared across multiple schemes. Members receive the same financial security and journey towards an insured buy-out as under Clara’s standard model.
“This is the second transaction through our Small Schemes Offering. Smaller schemes have historically had fewer endgame options available to them. By bringing schemes together within a pooled section, we can make the benefits of Clara’s model accessible to more members while maintaining the same focus on security and a clear path to buy-out,” said Matt Wilmington, Chief Transactions Officer at Clara-Pensions.
