Clara’s Security

At Clara, we put members first.

This means ensuring that transferring to us delivers a more secure pension. Here are the steps we’ve taken to make sure we can deliver for members and give greater security to promised pensions:

Regulation

We are overseen by The Pensions Regulator and have successfully completed their assessment process. They set a high bar for consolidators to be allowed to operate and they have tested our people, governance, processes and financial strength. You can find out more about how they regulate consolidators like Clara on their website. We’re also registered as a pension scheme with HMRC.

Robust governance

The Clara Pension Trust is overseen by a board of experienced professional independent trustees. They’re responsible for ensuring that members are paid their promised pensions. You can find out more about our trustees here.

The Clara management team is complemented by a highly experienced Chairman and a corporate board with a breadth of experience.

Aligned interests

Clara and our members share the same objective of getting safely to buyout. Clara cannot access the excess assets of a section until every member in that section has had their full benefits secured or provided for.

Prudent investment strategy

Clara’s objective is to get members safely to insured buyout and help deliver members what they were promised: we’ve no incentive to run inappropriate risks that might imperil that outcome. Clara is not there to generate profits through risky investment returns, unwarranted fees or using the pension scheme as leverage to a wider investment portfolio.

Well-funded

We replace a traditional sponsor covenant with a fully funded pot of capital from Day 1. The total assets of the scheme and this buffer fund, compromised of assets contributed by Clara, comply with requirements set out by The Pensions Regulator that ensure a very high probability that members will receive full benefits.

Prepared for the risks we face

Our business and model are robust, and we’ve been put through our paces by The Pensions Regulator. We are prepared for the risks that may be faced on our journey toward buyout, and we recognise the fact that things might not go as planned. We have an agreed plan in place that would act to wind-up sections of the Clara Pension Trust if that was in the best interests of members.

Protected

The Clara Pension Trust is a Pension Protection Fund eligible pension scheme. You can find out more about the protection they provide here.