UK pensions regulator signs off on first ‘superfund’

UK pension regulators have given a green light to the first “super fund”, a new and controversial integrated vehicle designed to take over the operation of traditional pension schemes.

Clara Pentions, which is dominated by reinsurance firm Wilton Li and investment firm Six Street, will be the first superfund to get regulatory approval on Tuesday.Regulators in the name of Clara list The number of superfunds that are considered to have good governance, good and good management, and good capital.

Approval of the super fund structure took years in it concern The protection of members of the pension system may be compromised. The model operated by Clara is to execute the scheme until it is taken over by the insurance company. This is called a buyout.

The Prudential Regulation Authority, which previously expressed concern about superfunds, said that superfundsbridge“On top of this.

“We’ve been working on this for a very long time,” Clara CEO Adam Salon told the Financial Times. He expects the company to take responsibility for the first pension plan within six months.

Read more @California News Times

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