Salvus

Workplace savings fintech Cushon has expanded its acquisition target to include pension-focused businesses as well as master trusts.

Smarterly, a FinTech business focussed on workplace savings, has acquired Salvus Master Trust for an undisclosed sum.

The Pensions Regulator (TPR) has issued a £2,000 fine to the Financial Conduct Authority’s (FCA) Pension Plan due to a non-compliant chair’s statement.

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.

Salvus Master Trust’s funds under management have surpassed the £200m as it continues to wait for authorisation from The Pensions Regulator (TPR).

Last month, a roundtable looked at the future of CDC and whether master trusts are well-placed to provide such an arrangement. Kim Kaveh reports

Savers face a huge number of options at-retirement. Steve Goddard believes this 'dartboard of choice' should be take away and an additional layer of trustee governance is needed to protect members in the deculmulation phase

The Salvus Master Trust will welcome another 1,200 members and 20 employers as it absorbs the £7m Complete Master Trust.

Schneider Electric has become the first company to sign up to use Salvus Master Trust's Retirement Bridge deculmulation offering.