The pensions advisory practice at Interpath has supported professional trustee firm Vidett in the transfer of the members of the Debenhams Retirement Scheme out of Pension Protection Fund (PPF) assessment to Clara-Pensions.
The project represents the second ever ‘Superfund’ transaction in the UK pensions industry and enables the transfer of 10,400 members of the Debenhams Retirement Scheme. It facilitates £4million in back payments to members who received reduced pensions during the PPF assessment period and full benefits for all members going forward.
Interpath advised Vidett alongside Osborne Clarke and Hymans Robertson.
David Clarke, Managing Director at Interpath, said: “This is a landmark transaction for the UK pension industry as awareness and interest in the potential of superfunds builds. We’re delighted to have supported Vidett through this process, which was a challenging and involved project that has generated a positive result for thousands of pension scheme members.”
For more information about pension superfunds and to discuss how they might be applicable to your scheme, please contact David Clarke.
