Pension master trusts: The list of providers

38 master trusts have now been authorised, including one new master trust.

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 12 December, 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. Aspire Savings Trust
3. Atlas Master Trust (Capita Employee Benefits)
4. The Aon MasterTrust
5. The Aviva Master Trust (formerly the Friends Life Master Trust)
6. The Baptist Pension Scheme
7. BCF Pension Trust
8. Bluesky Pension Scheme (Evolve Pensions)
9. The Carey Workplace Pension Trust
10. The Cheviot Trust
11. Combined Nuclear Pension Plan
12. Creative Pension Trust (Creative Auto Enrolment)
13. The Crystal Trust (Evolve Pensions)
14. Ensign
15. FCA Pension Plan
16. Fidelity Master Trust
17. HSBC Master Trust
18. Industry-Wide Defined Contribution Section of the Railways Pension Scheme
19. The ITB Pension Funds
20. The Legal & General WorkSave Mastertrust (net pay)
21. The Legal & General WorkSave Mastertrust (relief at source)
22. The Lewis Workplace Pension Trust
23. LifeSight (Willis Towers Watson)
24. The Mercer Master Trust
25. National Employment Savings Trust (NEST)
26. National Pension Trust (XPS Pensions Group) 
27. Now Pensions
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. Smart Pension
33. Standard Life Defined Contribution Master Trust (Standard Life)
34. Stanplan A (Standard Life)
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…

• Ascot Lloyd Pension Trust (formerly the PFP Group Master Trust)
• AGL Corporate Pension Trust (see 'Mergers so far' below)
• The Amber Pension Trust (see 'Mergers so far' below)
• Corporate Pensions Trust (see 'Mergers so far' below)
• Islamic Pension Trust  (see 'Mergers so far' below)
• Strawberry Workplace Pension (see 'Mergers so far' below)
• The Lighthouse Pensions Trust (see 'Mergers so far' below)
• The McDonald's Franchisee Pension Scheme (see details here)
• Moore Stephens Pensions Master Trust (see 'Mergers so far' below)
• The Open Pensions Trust (see 'Mergers so far' below)
• SuperTrust UK
• TRUST|Pensions (see 'Mergers so far' below)
• Welplan Pensions (see details here)
• + at least 31 others not publically confirmed

Mergers so far…

• AGL Corporate Pension Trust (merged into the Carey Workplace Pension Trust in December 2018)
• Amber Pension Trust (merged into the Carey Workplace Savings Trust in October 2018)
• Complete Master Trust (Merged into the Salvus Master Trust in April 2018)
• Corporate Pensions Trust (will merge into Smart Pension in May if it receives authorisation)
• Islamic Pension Trust (in the process of transferring members into the Carey Workplace Saving Trust)
• GenLife (rebranded from Friendly Pensions Mastertrust and then merged with Smart Pension in 2015)
• Strawberry Workplace Pension (will merge into Smart Pension in May if it receives authorisation)
• The Lighthouse Pensions Trust (will merge into Smart Pension in May if it receives authorisation)
• Moore Stephens Pensions Master Trust (merged into The Crystal Trust in March 2019)
• The Open Pensions Trust (Merged into The Crystal Trust in 2018)
• TRUST|Pensions (will merge into Smart Pension in May if it receives authorisation)
• YourWorkplacePension (formerly the Close Brothers Asset Management Master Trust. This was merged into The People's Pension in April 2017)

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.

• The Cheviot Trust
• Citrus Pension Plan
• Deloitte Pensions Master Plan
• The Enplan Pension Platform
• Federated Pension Plan
• Prudential Platinum
• The Premier DB Solution
• TPT Retirement Solutions (DB Complete)