Bank of England (BoE) governor Andrew Bailey is understood to have warned against superfund consolidation of defined benefit (DB) pension schemes less than a week after the entities were given the green light by The Pensions Regulator (TPR).
Defined benefit (DB) scheme consolidators The Pensions Superfund and Clara Pensions are both set to begin transacting as soon as possible after new guidance for their operations was issued by The Pensions Regulator (TPR).
Guy Opperman has held onto his role as minister for pensions and financial inclusion after an action-packed cabinet reshuffle yesterday.
Many schemes are actively thinking about defined benefit (DB) consolidation and are waiting in the wings for the superfunds to prove themselves before engaging, Clara says.
In this webinar, panellists discuss some of the key questions around defined benefit consolidation, including what it is trying to achieve and the suitability of various models.
Defined benefit (DB) consolidator Clara will get up to £500m of capital backing from global credit investment firm TPG Sixth Street Partners (TSSP), paving the way for its first deals.