The trustees of the Videndum DB Pension Scheme, for the manufacturer of camera and video solutions, will shortly transfer 500 members and £43m of assets to consolidator Clara Pension Trust to achieve buyout in future.  

“The company has been working over a long period of time to secure Videndum Pension Scheme members’ benefits.  With the scheme now in a strong financial position, we have taken the decision to transfer the scheme to Clara which will further strengthen and secure members’ benefits for the long term,” said Videndum’s group company secretary Jon Bolton. 

Trustee Tom Stockley of Aretas Trustees said: “Having carefully assessed all options, we are really pleased to have guided the scheme through this process.” 

Cath Williams, also of Aretas Trustees, added: “Clara’s bridge-to-buyout model, alongside its clear member-first ethos, gave us confidence that members’ interests would remain protected over the long term.” 

The chief transactions officer of Clara-Pensions, Matt Wilmington, said: “Superfunds continue to demonstrably increase member security and provide a more certain journey to an insured future. Clara continues to innovate, and we are working closely with a wide range of schemes to deliver an improved outcome for their members. We have a strong pipeline and anticipate announcing further transactions soon.”  

Clara claims that its pipeline has grown to more than 30 schemes. In the latest deal, Clara will inject additional ringfenced capital to enhance member security, as with previous transactions. These include Sears and Wates Group, a PPF+ deal with Debenhams and the Church Mission Society Pension Scheme using Clara’s connected covenant structure, keeping the link to its sponsor.  

The pension schemes bill will give the legislative basis to superfunds.