Pensions - Articles - Expected casualties from the 38 submissions for master trust

tPR has announced that 38 applications submitted for master trust authorisation as extension period closes. Mark Futcher, Partner at Barnett Waddingham, thinks there may be a number of causalities from this list.

 Mark Futcher, Partner and Head of DC at Barnett Waddingham, said; “The most interesting aspect of the authorisation process will be those Master Trusts that do not receive authorisation. We would expect a number of casualties from this list of 38; the industry knows there are still some poorly run Master Trusts out there – some still have historic errors to rectify.

 “On an ongoing basis, we would expect the bar to rise which would mean some Master Trusts winding up in the future. As assets and memberships grow, the successful Master Trusts can start to really differentiate themselves to ensure that members are better protected and benefit from better outcomes.”

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