Clara-Pensions has won the Pension Fund Innovation Award at this year’s European Pensions Awards, recognising the role it continues to play in reshaping the UK defined benefit landscape and enhancing member security.

Over the last 18 months, Clara has delivered four superfund transactions, helping more than 21,000 members move closer to buyout and transferring over £1.4 billion in assets into a more secure environment. From restoring benefits to members who faced lower pensions due to company insolvency, to supporting solvent sponsors looking to refocus on their core business, Clara has demonstrated consolidation can deliver meaningful outcomes across a wide range of schemes.

The award recognises Clara’s innovation in building a superfund model that works – not just in principle, but in practice. By delivering live transactions, designing new risk safeguards, and proving that consolidation can serve a wide range of schemes, Clara is changing how the industry approaches the DB endgame.

Accepting the award, Clara’s Chief Transactions Officer Matt Wilmington said: “It’s an honour to collect this award on behalf of the Clara team. We’ve worked incredibly hard to build a new model from scratch that has been proven to work for members, for trustees and for sponsors. It’s great to see that effort recognised by the industry.”

The award follows Clara’s latest deal with the Church Mission Society – the first superfund transaction involving a not-for-profit sponsor, and the first to use Clara’s new connected covenant structure. It marks another important step forward – both for Clara’s model, and for the growing number of schemes seeking security through consolidation.