Aviva Master Trust and Creative Pension Trust (CPT) have sent off their master trust authorisation applications to The Pensions Regulator (TPR).
Authorisation will lead to higher standards for all master trusts but their individual identities will remain, according to industry experts
Low income earners in the majority of master trusts are missing out on tax relief on their retirement savings due to a legislative technicality, according to research.
Aviva has appointed Jonathan Parker to oversee the investment strategy of its master trust.