master trusts

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

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.

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.

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.