Clara-Pensions

Bank of England (BoE) governor Andrew Bailey is understood to have warned against superfund consolidation of defined benefit (DB) pension schemes less than a week after the entities were given the green light by The Pensions Regulator (TPR).

With the launch of an interim regime, the consolidation market is set to take off. But before superfunds begin taking on schemes, the regulator must have 'rigour and understanding' of the market, David Fairs tells James Phillips.

This week’s top stories included The Pension Regulator’s launch of interim guidance for the superfund market, while the regulator also extended Covid-19 easements and resumed some reporting requirements.

Defined benefit (DB) scheme consolidators The Pensions Superfund and Clara Pensions are both set to begin transacting as soon as possible after new guidance for their operations was issued by The Pensions Regulator (TPR).

Charlotte Moore looks at how the Covid-19 economic crisis will affect funding for schemes in differing amounts.

The Department for Work and Pensions (DWP) says it will press ahead with a 10% increase to the general levy from 1 April, despite a severe industry backlash to a consultation on the issue.

Guy Opperman has held onto his role as minister for pensions and financial inclusion after an action-packed cabinet reshuffle yesterday.

Plenty of risk remains in the Pension Protection Fund's (PPF) universe but the outlook on funding levels is positive, the lifeboat says as it launches its 2019 Purple Book.

Three in five trustees have not heard of Clara Pensions, one of two defined benefit (DB) consolidators to have launched since last year's government white paper.

Defined benefit (DB) consolidator Clara has named its four inaugural providers for legal, actuarial and secretariat advice.