Pensions - Articles - TPRs Master Trust authorisation update


Sharon Bellingham, senior consultant at Hymans Robertson responds to TPR’s latest Master Trust authorisation update:

 “With just over three weeks left until the end of the authorisation window, we now see that a further 4 applications have been received by TPR. All eyes are still on the remaining 38 which are yet to show their hand, to either submit or choose to exit the market. Given the scale of what’s involved and what’s required, it’s sensible that schemes are taking time to ensure a solid and robust application, although I do hope that TPR is prepared for a possible tsunami of applications which are expected ahead of the 31st March deadline. We see that one request to TPR for an extension has been approved and it will be interesting to see whether any further requests are made – TPR will consider extended application periods by up to six weeks but only where there is “good reason” to do so, due to circumstances beyond the trustees’ reasonable control for example, rather than simply running out of time.

 “But submitting the application is not the end of the process and it is definitely not a case of sitting back and relaxing. Subsequent engagement, including face to face meetings, will take place between TPR and key stakeholders involved with the operation of the Master Trust, as well as with the Trustees. Equally, post authorisation, we will move into the new landscape of heightened supervision and the bar will continue to rise, and quite rightly so.”

Back to Index


Similar News to this Story

Sackers launch guide for trustees on pension transcations
Sackers have published its latest guide for trustees on buy-ins, buy-outs and longevity transactions. This guide is focused on supporting pension sche
Pensions Minister echoes climate warnings in Westminster
MPs from across the House of Commons have debated climate change and pensions. Pensions Minister Guy Opperman responded. Earlier he spoke of ‘kickstar
New tools allow pension schemes to deliver greater value
New tools helping pension schemes deliver greater value for money for millions of savers have been launched today (21 May) by the Cost Transparency In

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.