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

Market dynamic shift leads to higher insurer participation in buy-in processes

Market dynamic shift leads to higher insurer participation in buy-in processes

LCP report reveals full buy-in pricing currently sits at its ‘best level in years’

Holly Roach
clock 09 October 2024 • 2 min read
The importance of 'right first time' customer service in the BPA marketplace

The importance of 'right first time' customer service in the BPA marketplace

Andy Rose talks about managing the pensions of policyholders in the bulk annuity market

Andy Rose
clock 09 October 2024 • 6 min read
Michelin scheme secures mega £1.5bn buy-in deal with Aviva

Michelin scheme secures mega £1.5bn buy-in deal with Aviva

Largest BPA transaction of 2024 so far and Aviva’s largest external deal ever

Holly Roach
clock 09 October 2024 • 2 min read
Trustpilot