master trusts

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

A fifth of contract-based pension schemes expect to move to a master trust by 2025, along with a third of trust-based plans.

The Pensions Regulator (TPR) has revealed 90% of people are saving into the largest master trusts, creating a “safe and stable” workplace pension market.

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.

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.

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.

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.

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 has launched a redundancy consultation with staff as part of a plan to reduce costs and become more efficient.

Member-nominated trustees may not be feasible for master trusts, but representatives could improve communication with members, says Barry Parr