gunnercooke advises Church Mission Society on landmark pension transfer to Clara Pensions Superfund

June 17, 2025
Parminder K Latimer

Partner

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Partners at gunnercooke, led by Parminder Latimer, have advised historic UK and international charity, Church Mission Society, on a groundbreaking pensions risk transfer project.

Church Mission Society has transferred its defined benefit pension scheme (the Church Mission Society Pension Scheme), into the UK’s only current commercial consolidator (or “superfund”) pension arrangement, Clara Pensions. This has been coupled with the first and innovative “connected covenant” arrangement, providing additional assurance that pension scheme members will receive their benefits in full.

Working alongside adviser teams for the Church Mission Society pension trustees, gunnercooke partners Parminder Latimer (Pensions), Helen Miles (Pensions), Lynn Cantwell (Banking), and Rebecca Ireland (Employment) advised on the legal structures needed for this new form of pension risk transfer. 

Parminder Latimer commented: “It is not just pension scheme size that drives innovation and development in risk transfer options. This project has offered additional support to some 730 pension scheme members, which was of paramount importance to our client and helped our client, manage its pension liabilities alongside its continued international charitable activities. gunnercooke’s senior partners working on this project are uniquely placed to apply their knowledge and experience to engage with a new structure for securing the future of our client’s pension scheme.”

Becky Morris, Director of Finance and Corporate Services at Church Mission Society, said: “We have greatly valued the expertise and guidance that gunnercooke have provided to CMS during this process. Thanks to them, this highly complex undertaking has been made accessible and achievable.

“Church Mission Society is deeply committed to the wellbeing of our employees past, present and future and so I, the trustees and senior leadership team are pleased to be able to take this important step towards ensuring the security of our mission partners and staff pensions.”

To learn more about Parminder, you can check her website profile or email her at [email protected]

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