master trusts
Using retirement bolt-ons to improve the member experience
After five years of pension freedoms, occupational schemes are still not offering a full suite of retirement options to members. Sonya Fraser explores the retirement bolt-ons they could offer
One in five contract-based schemes expected to move into a master trust
A fifth of contract-based pension schemes expect to move to a master trust by 2025, along with a third of trust-based plans.
Nine in 10 people save into the largest master trusts
The Pensions Regulator (TPR) has revealed 90% of people are saving into the largest master trusts, creating a “safe and stable” workplace pension market.
Industry agrees DC master trusts have set a good example for other schemes
This week's 88 Pensions Buzz respondents agreed that defined contribution (DC) master trusts have set a good example for other types of DC schemes during the authorisation process.
TPR market update: 16 million members saving into a master trust as authorisation concludes
The master trust market now represents 16 million memberships and holds more than £36bn in assets, The Pensions Regulator’s (TPR) final master trust market update reveals.
All existing master trusts now authorised by TPR as Salvus and FCA receive approval
Salvus Master Trust and the Financial Conduct Authority Pension Plan have been approved by The Pensions Regulator (TPR), concluding the master trust authorisation regime for existing schemes.
Supertrust UK exits master trust market
The trustees and sponsor of Supertrust UK have decided to withdraw the master trust from The Pensions Regulator’s authorisation process and will now wind-up the scheme.
Don't limit DC savers' choice, respondents say
Defined contribution (DC) savers should not have their choices limited when it comes to savings plans and retirement decisions, a majority of this week’s 93 Pensions Buzz respondents say.
B&CE enters consultation over job cuts
B&CE has launched a redundancy consultation with staff as part of a plan to reduce costs and become more efficient.
Member representatives are vital for master trusts, but not as MNTs
Member-nominated trustees may not be feasible for master trusts, but representatives could improve communication with members, says Barry Parr
Five stories you may have missed this week
This week's top stories included HSBC's scheme completing a £7bn longevity swap with PICA and the government announcing it would review the tapered allowance for NHS scheme members.
Schemes should not divest from fossil fuels, says industry
This week's Pensions Buzz respondents have decidedly rejected former energy and climate change secretary Sir Ed Davey's argument that schemes should divest from fossil fuel intensive companies.
Industry backs 'gentle hand' of TPR supervision
The Pensions Regulator (TPR) is right to introduce new regulatory initiatives for 1,000 schemes as part of its clearer, quicker and tougher approach, this week's Pensions Buzz respondents said.
Choosing between GPPs and master trusts
As more employers go through the re-enrolment process, it may be time to balance the pros and cons of GPPs and master trusts. James Phillips looks at the arguments
TPR reveals plans to reduce 'poorly-run' schemes
The Pensions Regulator (TPR) is focusing on reducing the number of "poorly-run" schemes as it seeks to improve standards across the board.
Scottish Widows and Lewis master trusts apply for authorisation as 44 others close
The Scottish Widows Master Trust and the Lewis Workplace Pension Trust have applied for authorisation to continue operating in the master trust market, PP can reveal.
One third of schemes have calculated transfer values for GMP equalisation
One third of schemes have calculated transfer values for guaranteed minimum pension (GMP) equalisation, according to last week's Pensions Buzz respondents.
Mastering the future
In the latest in a series of DC columns from Newton Investment Management, Jin Philips considers what we can expect in the next stage of master trusts' development
Five stories you may have missed this week
This week's top stories included a Freedom of Information request revealing more than 100,000 savers could face six-figure tax bills as a result of GMP equalisation.
Government will not 'force pace of change' in AE
Guy Opperman has rejected calls to speed up changes to auto-enrolment (AE) despite increasing pressure to boost contribution rates and overall savings pots.
Charge cap should not be amended for illiquid assets
The default charge cap for defined contribution (DC) investment strategies should not be amended to make it easier to access illiquid assets, a majority of last week's 91 respondents said.
TPR confirms end to 'serious' admin issues at Now Pensions
Now Pensions has overhauled its administration system after historic issues caused a failure in collecting and investing around 265,000 members' contributions.
Smart Pension absorbs £12.5m Corporate Pensions Trust; Will apply for authorisation 'imminently'
Smart Pension has absorbed more than 6,500 members from the Corporate Pensions Trust (CPT) after its trustees decided not to apply for authorisation.
