Pension master trusts: The list of providers

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Professional Pensions has compiled a list charting the progress of master trust authorisation. View our list in full here...

All existing master trusts have now been authorised, as well as one new scheme, taking the total number to 38. 

Schemes had until the end of March to apply, or they would have been forced to wind up and transfer members to an authorised scheme, unless they had agreed an extension with the regulator.

By the start of May, 44 schemes had said they would exit the market, or already had exited the market, according to The Pensions Regulator (TPR).

We have compiled a list charting the progress of master trust authorisation, listing the master trusts currently in the market and flagging up those who have applied for authorisation or exited the market.

Can you help us keep this list up to date?  

The list we have, as of 17 December 2019, is as follows - please send additions or amendments to [email protected]  

DC master trusts:

Master trusts that have been authorised...

  1. The Aegon Master Trust (formerly the BlackRock Master Trust)
  2. The Aon MasterTrust
  3. Aspire Savings Trust 
  4. Atlas Master Trust (Capita Employee Benefits)
  5. The Aviva Master Trust (formerly the Friends Life Master Trust) 
  6. The Baptist Pension Scheme
  7. BCF Pension Scheme
  8. Bluesky Pension Scheme (Evolve Pensions) (has now wound up)
  9. The Cheviot Trust
  10. The Combined Nuclear Pension Plan
  11. Creative Pension Trust
  12. The Crystal Trust (Evolve Pensions)
  13. Ensign
  14. The FCA Pension Plan
  15. Fidelity Master Trust
  16. The HSBC Master Trust
  17. Industry-Wide Defined Contribution Section (Railways Pension Scheme)
  18. The ITB Pension Funds
  19. The Legal & General WorkSave Mastertrust (net pay)
  20. The Legal & General WorkSave Mastertrust (relief at source)
  21. The Lewis Workplace Pension Trust
  22. LifeSight (Willis Towers Watson)
  23. The Mercer Master Trust
  24. National Employment Savings Trust (NEST)
  25. National Pension Trust (XPS Pensions Group)
  26. Now Pensions
  27. Options Workplace Pension Trust
  28. The People's Pension (B&CE)
  29. Salvus Master Trust (Goddard Perry Consulting)
  30. Scottish Widows Master Trust (formerly the Zurich Master Trust)
  31. SEI Master Trust
  32. Standard Life Defined Contribution Master Trust (Standard Life)
  33. Stanplan A (Standard Life)
  34. Smart Pension
  35. TPT Retirement Solutions
  36. The University of Oxford Staff Pension Scheme
  37. USS Investment Builder (USS Superannuation Scheme)
  38. Workers Pension Trust

Master trusts exiting the market…

  1. Ascot Lloyd Pension Trust (formerly the PFP Group Master Trust)
  2. AGL Corporate Pension Trust (see 'Mergers so far' below)
  3. The Amber Pension Trust (see 'Mergers so far' below)
  4. BlueSky Pension Scheme (Evole Pensions) (see 'Mergers so far' below)
  5. Corporate Pensions Trust (see 'Mergers so far' below)
  6. Islamic Pension Trust  (see 'Mergers so far' below)
  7. Strawberry Workplace Pension (see 'Mergers so far' below)
  8. The Lighthouse Pensions Trust (see 'Mergers so far' below)
  9. The McDonald's Franchisee Pension Scheme (see details here)
  10. Moore Stephens Pensions Master Trust (see 'Mergers so far' below)
  11. The Open Pensions Trust (see 'Mergers so far' below)
  12. SuperTrust UK (see details here)
  13. TRUST|Pensions (see 'Mergers so far' below)
  14. Welplan Pensions (see details here)

And at least 30 others not publically confirmed

Mergers so far…

DB master trusts:

Professional Pensions is also looking to compile a list of DB master trusts... So far, we have the below - please let us know if you have any amends.

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