Pensions - Articles - Comment on tPR's 'master trusts pose risk to members'

 “We agree with The Pensions Regulator that master trusts need to be just as accountable to regulatory scrutiny as both trust and contract based schemes. Although industry-recognised accreditations such as Pension Quality Mark (PQM) READY and the Master Trust Assurance Framework (MAF) require major investment, we believe that The Pensions Regulator should make it mandatory for all master trusts to achieve these qualifications within a set timeframe. This would go a long way to promoting best practice around charges, scheme governance and member communications as well as developing a reputable and trustworthy industry. Particularly so in our emerging and fast growing market where employers need to know that their members’ savings are safe.”