- Clara will establish a new sectionalised occupational pension scheme governed by a board of fully independent trustees. We expect to be regulated by The Pensions Regulator (“TPR”) and to participate in the Pension Protection Fund’s (“PPF”) regime. Incoming schemes that become part of the Clara solution will each become a section within the Clara trust.
- Clara’s risk capital provides a permanent and funded covenant. For all but the strongest of schemes and sponsors (who are not our target market) this will immediately enhance members’ security.
- Clara’s solution gives sponsors and schemes, for whom buy-out is currently out of reach, the opportunity to accelerate the fulfilment of their pension promises.
- Clara’s funding position allows a de-risking of the investment strategy meaning that members carry less risk on the journey to buy-out.
- The scale benefits of consolidation provide Clara with the resources to embed strong governance. The economic value of better governance lies in reduced costs, improved risk adjusted returns and professionalised scheme management.
A new risk transfer solution that is deliverable today.