Publication
TGA shelves biosimilar and generic transparency measures
In late 2020, following almost 18 months of public and industry consultations conducted by the Therapeutic Goods Administration (TGA).
Clara Pensions agrees UK's first superfund deal
United Kingdom | Publication | November 2023
On November 6, 2023, the trustees of the £590m Sears Retail Pension Scheme reached an agreement to enter into the UK’s first ever superfund transaction with Clara Pensions. A superfund is an arrangement set up to consolidate DB schemes’ liabilities, in which the link to the sponsoring employer is severed following transfer.
The deal, which has been cleared by the Regulator, will see Clara make an additional £30m of ring-fenced funding to support the 9,600-member scheme. The scheme’s assets will be used to generate returns to pay pensions, with the aim of securing a full buy-out deal with an insurer within five to ten years.
This long-awaited first transaction is seen as significant for both Clara and the pensions industry as a whole. It has the potential to be the catalyst for transformative change in the pensions industry, providing a “safe bridge” bringing the insurance market into reach for more schemes and their members.
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NSW EPA releases Climate Change Assessment Requirements and Guidance for Large GHG Emitters
The NSW Environment Protection Authority (EPA) recently released for public comment its draft Climate Change Assessment Requirements (CCARs) and draft Guide for Large Emitters (Guide).
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Understanding Australia’s minimum stockholding obligation
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