Pensions - Articles - Pensions Regulator comments on DWP Master Trust regulations


The Pensions Regulator (TPR) welcomes the Department of Work and Pensions’ (DWP) consultation on the regulation of master trusts.

 TPR has long called for much stricter regulatory controls on master trust schemes and voiced concerns over the current very low barriers to market entry.

 The Pensions Schemes Act 2017 gives TPR tough new powers to authorise and de-authorise master trust schemes.

 TPR believes that authorised master trusts will be the lynchpin in the development of a sustainable and safe occupational defined contribution (DC) schemes market.

 Nicola Parish, Executive Director of Frontline Regulation at TPR, said: “We welcome the publication of the draft regulations for master trust authorisation and I urge trustees and providers to take part in the consultation.

 “We have been in active discussions with the industry for more than 12 months and will publish a code of practice for consultation early next year on how authorisation will work and how the criteria should be met.

 “Our goal is to ensure those responsible for running and governing master trusts understand the requirements and are ready to apply for authorisation, which is expected from October 2018.”

Back to Index


Similar News to this Story

Pension transfer petition nears deadline
Pension savers are being urged to act now as the clock ticks on a parliamentary petition designed to stop unnecessary delays when people seek to move
Funding steady as December caps positive 2025 for DB schemes
Fully hedged scheme sees small funding level decrease over December. 50% hedged scheme does not change funding level between month ends. Both schemes
Five key areas of focus for the DC pensions market in 2026
LCP expects 2026 to be a pivotal year for the defined contribution (DC) pensions market, driven by new regulation taking shape, tax reform and evolvin

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.