Everybody recognises that the defined benefit pension system needs to change. But the people who need to change it are pulling in different directions.
Clara is a new way to solve the pensions problem. It works by getting everybody to pull in the same direction. We do this by becoming the sponsor of defined benefit pension schemes, taking over responsibility for paying benefits from the original sponsoring employer. Unlike the original employer, we have no other focus. Our purpose is paying benefits, so what’s right for the scheme is right for us.
With everyone pulling in the same direction, we’re all better off. Companies free themselves from their pension liabilities, making it easier for them to raise capital, attract buyers and invest in the future. Schemes secure a stronger sponsor, leaving them with better resources, a stronger balance sheet and a better-constructed portfolio. The scheme’s interests and Clara’s interests are aligned – meaning members’ benefits become more secure.
With a shared agenda, everyone can face the future with more confidence.