All Master trusts articles – Page 14
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News
Smart absorbs Lighthouse master trust as consolidation intensifies
On the go: Financial advice business Lighthouse Group has decided not to pursue authorisation for its master trust, handing over employers and members to competitor Smart Pension.
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OpinionThe government’s pensions priorities for 2019
Aries Insight’s Ian Neale says government and regulators should look to restore public trust in pensions in 2019, ensuring previous priorities such as the pensions dashboard do not fall by the wayside.
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News
Master trusts slow to seek authorisation from TPR
On the go: Master trusts continue to be tardy in applying for authorisation from the Pensions Regulator, with the watchdog revealing that it has only received six applications for authorisation as at December 31 2018.
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News
TPR warns trustees to check scheme status or fall foul of the law
On the go: Trustees of some pension schemes may be in the dark over their status, potentially leading them to fall foul of master trust legislation that could close their scheme.
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NewsM&B switches to drawdown and moves deferreds to master trust
The Mitchells & Butlers pension scheme has updated its defined contribution default strategy to target drawdown purchase, directing members to a master trust for retirement provision.
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News
PMI report predicts just 20 master trusts in five years’ time
On the go: There will be no more than 20 master trusts in five years’ time, according to in an influential report from the Pensions Management Institute, which predicts the new master trust authorisation regime will lead to widespread consolidation and collaboration.
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News
TPR: Only one master trust authorisation in the pipeline so far
On the go: Master trusts have been slow off the mark to obtain authorisation from the Pensions Regulator. They have a six-month window from 1 October to gain approval. Since then only one master trust has applied.
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News
Changes to authorisation affecting some master trusts
Last-minute changes made to the master trust authorisation process by the Pensions Regulator have made it hard for a number of schemes to apply, a senior master trust figure has said.
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OpinionBridging the gap
Editorial: Auto-enrolment has certainly succeeded so far in helping more people save for retirement. But there is still a lot more to be done.
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NewsThree big ideas for better member engagement
For all the successes of behavioural finance and auto-enrolment, the weight of retirement decisions on savers means member engagement is still important. Three experts pitch their ideas to improve scheme communications.
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News
Fined Salvus trustees left £1.4m uninvested for 3 years
Four trustees of the Salvus Master Trust have been fined by the Pensions Regulator after they failed to invest £1.4m of member contributions over three years.
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Features
Master trust authorisation: How important is timing?
Analysis: From this month, master trusts have until April 2019 to apply to the Pensions Regulator for authorisation. What has the watchdog’s feedback shown us so far, and how will timing of applications come into play?
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OpinionDC mastertrust consolidation: The long-term outcome
CMS’s Jennifer Bell and Daniel Shaw discuss mastertrust authorisation and the future of defined contribution consolidation.
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OpinionNew guidelines provide carrot and stick on DC administration
From the blog: As a trustee, I welcome with open arms the new DC Administration Governance Guidance issued earlier this summer by the Pension Administration Standards Association.
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OpinionMastertrust sector still concerned about new regime
The Pensions Management Institute’s working group on mastertrusts has revealed that while the industry welcomes authorisation with open arms, particpants remain unclear on what form the new regulatory regime will take, writes PMI president Lesley Carline.
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News
Aegon not interested in scooping up failed mastertrusts
Pensions provider Aegon has declared itself uninterested in buying mastertrusts that drop out of the market as a result of authorisation, aiming instead at the more lucrative single-trust defined contribution market.
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OpinionSuperfunds play vital role in the future of DB
For the 11m savers relying on defined benefit pensions for their retirement there has been some much needed good news in recent months.
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News
DB transfers heading into costly drawdown products, research finds
Defined benefit members transferring out of their scheme to take advantage of freedom and choice may be wasting money on fees for flexibilities they are unlikely to use, according to a new report.
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News
Mastertrust transfers and charges blasted in ‘worst in pensions’ study
Two of the UK’s largest mastertrusts have been named the worst performing providers in pensions over high charges and slow transfer processes.
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News
Could mastertrust consolidation result in stranded schemes?
Strict requirements for mastertrusts to contingency plan for their own demise as part of the sector’s new authorisation regime may have unintended consequences if wound-up schemes become stranded, experts have warned.