A new risk transfer solution - deliverable today

Over the last few years pension consolidation has emerged as a viable option for trustees and businesses to secure the future for their members, gaining strong support across the industry, government, and pensions regulatory bodies.

Our consolidation model puts members at the heart of what we do. We approach consolidation in a considered and professional way, giving members, sponsors, and trustees the information and time to consider whether we are the right choice for them.

For trustees and sponsors, we offer a path to fulfil their pension obligations the right way for members, at a sensible cost with experienced and professional oversight. Our fully funded covenant and prudent and appropriate investment strategy greatly improve pension security.

We’d encourage you and your clients to engage with The Pensions Regulator at an early stage as they consider consolidation. Once your clients have decided Clara is the right option for them and their members, a transaction with us will require clearance (or a similar process where there is no current sponsoring employer). You can find guidance on what they expect from prospective ceding trustees and employers on their website. The guidance includes how they test whether consolidation is the right option for a scheme and that a buy-out is not readily achievable – known as the ‘gateway’ test.

As part of a transaction we establish a new sectional of the Clara Pension Trust for each scheme. The Clara Pension Trust is governed by our board of fully independent trustees, giving sponsors and schemes – for whom buy-out is currently out of reach — the opportunity to accelerate the fulfilment of their pension promises.

Consolidators like Clara are overseen by The Pensions Regulator – we appear on the list of superfunds which have completed their assessment process. You can find out more about their expectations of superfunds and their expectations of those wanting to transact with a superfund on their website. The Clara Pension Trust is a Pension Protection Fund eligible pension scheme.

Talk to us today to see how consolidation with Clara can benefit your clients and their scheme members.