Sackers advises Marelli UK pension schemes on superfund deal

The Trustee of six separate pension schemes within the Marelli UK group has agreed to enter into a superfund transaction with Clara-Pensions.

The Trustee has written to the schemes’ members informing them of the intention to transfer their pension benefits to the Clara Pensions Trust. Clearance for the transfer has been received from The Pensions Regulator and the formal transfer of members is expected to complete in November.

Sackers advised the Trustee on this landmark transaction which incorporates a number of innovative and industry-first features. Notably, it is the first multi-scheme superfund transaction, whereby members from different pension schemes within the same corporate group are simultaneously and inter-conditionally transferred to Clara. While the schemes share a common trustee, they have a range of distinct characteristics and benefit structures.

This marks the third Clara transaction on which Sackers has advised, reinforcing our position at the forefront of pension superfund innovation