Pensions - Articles - DC investors need to be confident in master trusts

 Asking for extensions seems to be a popular past-time at present! But, on a more serious note, authorisation submissions are exceedingly complex and evidently need much care and attention. If that means some master trusts need more time, then so be it – rather a successful submission than a master trust failing on a technicality due to a rushed response.

 Spreading out the submissions will surely give TPR an even better chance to turn the applications around, with the patiently waiting market ready to start work on a new round of DC design and delivery. We need DC investors to be confident in master trusts, although we would prefer not to have to wait longer to know who will and who will not be authorised.

 Having a broad, competitive master trust market in the medium to long term is of greater importance though than a short term delay in having all the answers.