Clara-Pensions, the member-first consolidator for defined benefit pension schemes, today announces it has appointed Steve Groves to be a member of its corporate Board.

Steve brings more than twenty years’ experience in the UK retirement industry, including many C-Suite and Non-Executive Director positions. He currently holds the Chairman position at Key Retirement Group and Retirement Bridge and spent much of his career as Group CEO of Partnership, a specialist annuity insurer.

Steve’s appointment follows that of Lawrence Churchill, former chairman of the Pension Protection Fund, who was made Chairman of the Clara corporate board in September. Clara’s board is charged with overseeing the company’s corporate governance as it builds a consolidation vehicle for defined benefit pension schemes.

Lawrence Churchill, Chairman of Clara-Pensions, said: “As Clara lays a new path for members to reach a safer insured future, its ability to tap into the knowledge and experience of someone like Steve is critical.

“I know I speak on behalf of the entire team at Clara when I say that we are extremely fortunate to be welcoming Steve on board. He has devoted the majority of his career to providing de-risking solutions for defined benefit pension schemes and this experience will greatly benefit Clara as it prepares to welcome its first members.”

Steve Groves, Non-Executive Director of Clara-Pensions, said: “I have spent many years embedded in the UK’s insurance and retirement sectors. This experience has given me a profound understanding of the issues members and schemes face achieving pension security.

“Clara represents an exciting new wave of innovation that has the potential to greatly improve the security and outcomes for pension scheme members. I am relishing the prospect of working with Lawrence and the Clara team in supporting the business through such a crucial phase in its development.”