Clara Pensions announces first superfund deal with Sears Retail Pension Scheme

Superfund will provide £30m of ring-fenced ‘buffer’ funding as part of the transaction

Jonathan Stapleton
clock • 5 min read

The trustees of the £590m Sears Retail Pension Scheme have agreed to enter into the UK’s first ever superfund transaction with Clara Pensions.

The deal - which received regulatory clearance from The Pensions Regulator (TPR) on Friday (3 November) - will see Clara inject an additional £30m of ring-fenced funding to support the 9,600-member...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Risk Reduction

Scottish Milk scheme completes £42m full buy-in with Just Group

Scottish Milk scheme completes £42m full buy-in with Just Group

Transaction secures the benefits of 292 pensioners and 160 deferred members

Holly Roach
clock 27 August 2024 • 2 min read
Standard Life says £40bn of BPA deals expected by end of 2024

Standard Life says £40bn of BPA deals expected by end of 2024

Provider has published its predictions for the BPA market for the rest of the year

Jasmine Urquhart
clock 21 August 2024 • 1 min read
Hymans Robertson advises sponsors to engage in endgame

Hymans Robertson advises sponsors to engage in endgame

Firm’s paper says sponsors should engage at three buyout stages to avoid higher costs

Jasmine Urquhart
clock 16 August 2024 • 2 min read
Trustpilot