Marvin OnumonuBroadstone has been appointed to administer a new section of the Clara Pension Trust, following the transfer of 500 members from the Videndum DB Pension Scheme and £43m of assets.
The move is part of the UK’s fifth superfund transaction, with members set to continue receiving their full pension entitlements in the Clara Pension Trust.
Paul Noone, head of administration operations at Broadstone, 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.”
Noone added: “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.”
Jayne Pocock, chief member experience officer at Clara-Pensions, said: “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.”
