Clara becomes first DB superfund to get approval

18 months after interim regime launched

James Phillips
clock • 2 min read

Clara has become the first superfund to appear on the list of assessed defined benefit (DB) superfunds from The Pensions Regulator (TPR), clearing the way for the first scheme transfers.

The DB scheme consolidator, which launched in 2017, is now listed on the regulator's list of assessed DB superfunds having been assessed against a number of criteria including that it has good governance, is run by fit and proper people and is backed by adequate capital. It comes nearly 18 months after the launch of the interim regulatory regime, under which DB consolidators are assessed against criteria similar to that applied to the defined contribution (DC) master trust market. Clara chief executive Adam Saron (pictured) said: "This has been a remarkable team effort. Clara was foun...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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