Legal & General's (L&G) WorkSave Mastertrust has obtained the master trust assurance framework accreditation (MAF).
The voluntary assurance framework was developed by the Institute of Chartered Accountants of England and Wales (ICAEW) in association with the regulator to support auditors to provide independent assurance reports for the trustees of master trusts.
Although L&G's master trust has gained MAF accreditation, it is not currently on the regulator's list of schemes which have obtained MAF.
A spokesman said: "We're already working with TPR on their additional requirements and hope to be added to their list shortly."
PP contacted TPR as to why this was the case and was told any scheme which has received MAF accreditation and wants to be on the list must apply to the regulator and meet additional criteria aside from MAF.
L&G WorkSave Mastertrust chairman Paul Trickett (pictured above) said: "Obtaining master trust assurance further demonstrates the high standards of governance applied to the L&G master trust.
Employers and members who choose to save within our master trust can feel secure about the quality and value of their choice. Master trusts are an excellent way to organise pension saving and the L&G master trust remains at the forefront in terms of quality and security."
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