The Pension Regulator’s Guidance was published on 21 October 2020 and can be found here.
Adam Saron, Clara’s Chief Executive commented:
‘We welcome this Guidance. It confirms transactions are deliverable and confirms consolidators can ‘offer a secure destination for schemes and members’. The proportionate approach adopted by The Pensions Regulator to reflect scheme and employer circumstances is particularly welcome.
‘We look forward to The Pensions Regulator completing their assessment of Clara in the near future and having our first transactions cleared thereafter. In creating a clear framework and checklist of things to consider, we also think this Guidance provides a helpful framework for assessing all risk-transfer activity that trustees and sponsors may undertake.’
Please do talk to us about how the new guidance might apply in your circumstances and how we can support you as a trustee, sponsor or advisor in engaging with The Pensions Regulator about a potential transaction.