Clara-Pensions, the member-first consolidator for defined benefit pension schemes, has today announced its confirmation as the first to successfully complete The Pensions Regulator’s (TPR) assessment as a DB consolidation vehicle. This key milestone permits Clara to start transacting in the market.
CMS has advised Clara-Pensions since 2017, helping to establish the form and structure of the platform, set up the occupational pension scheme, and provide legal support throughout its development, assisting the commercial consolidator to reach the point where it is ready to provide security to appropriate schemes, by providing a strong capital-backed solution as a bridge to the buy-out market.
Adam Saron, CEO of Clara-Pensions said: ”Reaching this milestone has been a remarkable team effort and our team extends beyond Clara to our professional partners who have supported member-first innovation since the very beginning of our journey. CMS have been a real support, leading us pragmatically through the legal issues. We now turn our attention to first transactions.”
Caroline Kurup, Partner of CMS Pensions said: “We are delighted that after this thorough and rightly rigorous process, Clara-Pensions is now able to assist a number of Trustees who are looking to secure their members’ benefits in full, in circumstances where the buy-out market is simply out of reach. It promises to be a really exciting 2022.”
The Pension Regulator’s DB superfunds list can be found here.
