The PMI and Clara-Pensions Academy Partnership on superfunds is designed to improve industry understanding of this innovative consolidation model. Clara-Pensions became the first defined benefit (DB) superfund to complete The Pensions Regulator’s (TPR) assessment process in 2021 and secured the first UK superfund deal with the 9,600 members Sears Pension Scheme in 2023.
The PMI’s Academy Partnerships are developed with organisations considered to be experts in the industry in a range of areas to share knowledge and best practices. The new partnership with Clara-Pensions will enable PMI members to access the unparalleled experience, and resources to improve their understanding and enable professional development.
In addition, the PMI is renewing its successful Insight Partnerships with Wealth at Work, Scottish Widows, Insight Investment, Barnett Waddingham, Cardano, Schroders, Sackers, and Invesco. The Insight Partnerships enable firms to build brand awareness among trustees and the wider industry and demonstrate expertise in their sector or specialisms. This enables partners to reach and engage with the PMI membership and thus the wider pensions industry.
The Academy Partnerships will involve hosting training workshops and webinars as well as providing case studies and learning manuals for PMI members on key topics within the industry. The PMI’s partnerships support innovation on current, pertinent issues and add value through the delivery of specialist knowledge. The partnerships launched at the start of January 2024 and will be available to pension scheme members across the UK.
The PMI’s Academy actively promotes stronger, more effective pensions through enhanced professional education and development. The PMI is excited about the future work the Academy can do with its new partnerships.
Gareth Tancred, CEO of the PMI, commented on these partnerships, stating: "The partnerships with Clara-Pensions will provide our members with unparalleled understanding from the leading superfund experts. This is a particularly exciting time for us to partner with Clara-Pensions. On 6 November, Clara-Pensions agreed a deal with the £590 million Sears scheme to complete the UK’s first superfund transaction. We are delighted to be working with Clara-Pensions at the time of this landmark event. We look forward to working with Clara-Pensions and our other existing partners in championing professional development in the pensions industry.”
Jayne Pocock, Head of Trustee Services at Clara-Pensions, said: “The first pension scheme members have now joined Clara-Pensions and we continue to see growing interest in the superfunds concept. With interest so high, and this idea still only a few years old, it felt like the perfect moment to join the PMI as an Academy Partner. We’re looking forward to working with the PMI to explain all the key elements and advantages of superfunds and the Clara-Pensions model specifically as our business continues to make defined benefit pensions safer.”
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