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...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
