Master trusts 'dominate' DC market, TPR data shows

Regulator urged schemes that do not offer value to consolidate

Holly Roach
clock • 3 min read
Master trusts 'dominate' DC market, TPR data shows

Master trusts “dominate” the defined contribution (DC) pension market, data from The Pensions Regulator (TPR) shows.

The regulator's research of the DC landscape revealed smaller schemes continue to exit the DC market, with scheme numbers falling by 15% in 2025 to 790. TPR said the decline is largely driven by sc...

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Holly Roach
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Holly Roach

Deputy Editor at Professional Pensions

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