Broadstone will act as a third party administration for the DB superfund Clara Pensions.
Broadstone joins Hymans Robertson and Isio as Clara partners, giving Clara the option of using its administration services for future transactions.
This follows the transfer of the Debenhams Retirement Scheme to Clara on 16 April 2024, for which Broadstone will continue to provide administration services.
Broadstone has a team of around 250 administrators, use its own in-house system. Broadstone says this enables it to provide a service focused on a personal member experience, assured quality, and swift turn-around times.
Broadstone head of pensions administration Gavin Giles says: “This marks the start of a partnership with Clara, who are providing a real alternative to the traditional end-game journey for DB pension schemes.”
Clara head of trustee services Jayne Pocock adds: “We’ve been very impressed by the quality of Broadstone’s pensions administration services and look forward to our members being able to benefit from them into the future.”
