Clara-Pensions agrees second Small Schemes Offering transaction with unnamed c£40m scheme

Clara-Pensions has reached agreement with the trustee of an unnamed pension scheme to transfer its members and assets to the Clara Pension Trust. More than 400 members and approximately £40m of assets will move across, and Clara will inject additional capital to enhance the security of members’ benefits as they begin their journey towards an insured buyout.

The deal is the second through Clara’s Small Schemes Offering. The first, agreed in April, covered the 500 members of the Videndum DB scheme and £43m of assets. The offering gives schemes under £100m access to a pooled section of the Clara Pension Trust, sharing the costs of operating a section across multiple schemes.

"Smaller schemes have historically had fewer endgame options available to them. By bringing schemes together within a pooled section, we can make the benefits of Clara’s model accessible to more members", said Matt Wilmington, chief transactions officer at Clara-Pensions.