There has been a lot of discussion about consolidation in UK pensions and, in particular, the first two superfunds in the market, Clara Pensions and The Pension SuperFund.
While consolidation can reduce admin costs, increase the range of available investments and offer better governance, this needs to be approached with care. This is particularly true if and when the link is being broken to the incumbent sponsor as per the Clara Pensions and The Pension SuperFund models.
Andrew Ward - Partner & UK Risk Transfer Leader, Mercer
David Ellis - Partner & UK Leader, Bulk Pensions Insurance Advisory, Mercer