Wates transfers pension scheme to “superfund”

Wates is transferring its defined benefits pension scheme to superfund Clara.
The move will see £210m of assets transfer to pension specialist Clara and Wates will invest another £19m into the fund which covers 1,500 current and former staff.
The transfer to Clara is expected to complete in January 2025. Clara specialises in managing member benefits transferred from pension schemes and is overseen by a board of experienced professional independent trustees.Mike Roberts, Chair of Trus