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Our thoughts on the recent superfund deal between Debenhams Retirement Scheme and Clara Pensions

Trustees of the Debenhams Retirement Scheme have agreed to enter into a superfund deal with Clara Pensions. Judith Anunda, Head of Alternative Solutions, comments:

“Clara’s announcement of its second deal this morning is great news for the pensions industry and a testament to what the consolidator option can achieve for members. It is excellent to see Clara play a critical role in securing full member benefits – Debenhams scheme members will receive their pensions with no haircuts, which would have been the default in the absence of the consolidator option.

The transaction builds the case for the consolidator route as a viable option that is worth considering by trustees and sponsors in the right circumstances.

The key for trustees and sponsors will be selecting the right solution that addresses a scheme’s unique circumstances and demonstrably improves its scheme members’ security.”