Arco Group Pension and Life Assurance Scheme agrees £135m transfer to DB Superfund Clara, advised by XPS

Arco Group Pension and Life Assurance Scheme agrees £135m transfer to DB Superfund Clara, advised by XPS

01 Oct 2026

XPS Group, which advised Dalriada Trustees Limited as Professional Sole Trustee to the Arco Group Pension and Life Assurance Scheme, has supported the Scheme on its £135m transfer to Clara-Pensions, covering around 1,281 members.

The transaction strengthens protection for members’ benefits through a transfer to Clara and adds to a growing body of superfund transactions in the UK, as the model becomes an increasingly established part of the DB endgame landscape.

XPS worked closely with the Trustee, alongside their legal adviser Pinsent Masons and covenant adviser EY, supporting the assessment, due diligence, and execution of the transaction. Following a company proposal to pursue a superfund transfer alongside a wider corporate transaction, the Trustee considered a range of options before concluding that Clara offered the most appropriate route to strengthen member security and provide a long-term solution for the Scheme within the required timetable.

XPS acted as Scheme Actuary and adviser to the Trustee throughout the process, providing strategic advice, assessing member outcomes, and supporting the Trustee through the due diligence, regulatory, and transaction requirements associated with the superfund transfer.

Chris Fletcher, Partner and Scheme Actuary at XPS Group, said: “This transaction demonstrates what can be achieved when trustees, sponsors and advisers work collaboratively and at pace. XPS has advised the Scheme for more than 40 years, and we were pleased to provide support through a complex process that strengthens member security while enabling the wider corporate transaction to proceed.”

Patrick Lloyd, Senior Consultant at XPS Group, said: "The successful completion of this deal marks another important milestone for the UK superfund market. The growing number and range of transactions is demonstrating where superfunds can add value, and we expect them to become an increasingly important part of the pensions risk transfer landscape alongside a thriving insurance market.”