Clara has established a new consolidation vehicle for defined benefit schemes, which will act as a bridge for members from their current company sponsor to the insured market.
Kim Toker, COO of Clara-Pensions, said: “When we designed Clara, we knew from the outset that establishing a best-in-class infrastructure that draws on the knowledge and advice of the people and firms who have spent decades in the pensions industry would be fundamental to providing a truly member-first solution.
“CMS, Hymans Robertson, Eversheds Sutherland and Ross Corporate Services each stood out to us as firms that could work in perfect partnership with Clara and our trustees as we build a business that works hard to secure pension scheme members’ futures.”
This series of advisory announcements is the latest development for Clara, as it prepares to welcome its first defined benefit pension scheme in the coming months. It follows the recent announcements that it has appointed Lawrence Churchill as its inaugural Chairman; and Alan Pickering CBE, Michael Chatterton and Frank Oldham as the first trustees of its independent governing board.
• CMS, the international law firm, has been Clara’s legal adviser since June 2017 playing a key role in the development of our solution.
• Hymans Robertson, the pensions and risk consultancy, has been selected as the scheme’s actuarial adviser having been closely involved in developing our proposition since the beginning of the year.
• Eversheds Sutherland, the global legal practice, has been selected as legal adviser to the independent Trustees of the Clara Pension Trust.
• Ross Corporate Services, the pension scheme governance specialist, has been selected as the scheme’s secretariat.
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