Kim Gubler, PASA Chair commented: ‘Consolidation continues to develop as a pathway for schemes who want to maximise member outcomes, and with this development comes the potential for administration complexities. The industry waits with anticipation as these new solutions are put into practice and many are eager to see results. It is encouraging then to see organisations such as Clara proactively engaging with their administration and taking their responsibility to members seriously. Establishing open dialogue and communication with different areas in the industry, means we can drive more genuinely valuable and practical solutions to the challenges impacting the administration market.’
Kim Toker, COO and co-founder at Clara-Pensions said: ‘Being a member-first consolidator, isn’t just about safer pensions, it is about the level of service we want to provide our members throughout their Clara journey. As we scale, we’ll aim to learn from best practice and leverage the innovation in technology available across the broader financial services sector. We believe that focusing on improving data quality and administration are crucial to a modern, positive member experience. Working with PASA, will give us a clear view of ‘what best looks like’ as we develop our member services, undertake our first transactions and show that consolidation can be good for members.’
