Broadstone appointed to administer new section of Clara Pension Trust

The move come as the trustees of the £43m Videndum Defined Benefit (DB) Pension Scheme agreed to enter into a superfund deal with Clara Pensions in a deal announced last week (21 April).

The deal is the first to make use of a smaller schemes structure whereby the Videndum scheme will join a new open section of the Clara Pension Trust, a section that will allow other smaller schemes to join in the future.

Broadstone is already part of Clara's third-party administration panel and previously partnered with Clara in April 2024 following its transaction with the Debenhams Retirement Scheme.

Broadstone head of administration operations Paul Noone said: "This appointment further strengthens our partnership with Clara. It reflects the confidence in Broadstone's ability to provide high quality administration services both throughout and following innovative transactions.

"We are pleased to be supporting Clara once more and look forward to working closely with all parties to ensure transferring members continue to receive a seamless, secure and well-governed service. As momentum in the superfund market grows and more transactions enhance member security, it is pivotal to deliver gold-standard administration services to support an outstanding customer experience."

Clara Pensions chief member experience officer Jayne Pocock added: "We have an established relationship with Broadstone and a strong track record of working together to deliver high‑quality, well‑governed administration for members. Their appointment reflects our confidence in their capability, experience and member‑focused approach. As Clara continues to grow, it is essential that we partner with administrators who share our commitment to safeguarding benefits and delivering consistently positive outcomes for members, both during and after a transfer."