Clara-Pensions, the consolidator for defined benefit pension schemes, has extended its partnership with longevity specialists Club Vita.
Club Vita was established in 2008 and works with over 500 pension funds in the UK, US and Canada, pooling longevity data to increase the accuracy of liability modelling.
Clara says the renewed agreement will play a key role in its liability management and ‘bridge to buy-out’ model, strengthening the security of its members’ benefits.
Clara and Club Vita have already worked together since 2019. With over 20,000 members now in the Clara Pension Trust, the extended partnership continues to enable granular modelling of the benefits promised to members and pro-active longevity risk management.
Clara-Pensions chief actuarial officer Luke Stratford-Higton says: “Working with Club Vita is crucial to how we value our existing liabilities, as well as working with trustees and sponsors of schemes exploring a transfer to Clara.
“With over 20,000 members now in Clara, securing their benefits remains at the heart of our model. Club Vita’s data and tools are vital to this work, both as we look after members today and as we help plan for their future with an insurer.”
Club Vita founder and chief visionary officer Douglas Anderson: “As longevity trends evolve, our advanced analytics, driven by our unique dataset, will help ensure pension promises remain sustainable and equitable for generations to come.”
