Pensions - Articles - Two more Master Trusts gain authorisation from TPR

The National Pension Trust and SEI Master Trust have gained authorisation from The Pensions Regulator

 The Trustees of the National Pension Trust (part of XPS Pensions Group) have received confirmation from the Determinations Panel on behalf of The Pensions Regulator (TPR) that the National Pension Trust has been granted authorisation under the Pension Schemes Act 2017 with effect from 2nd August 2019.
 Ian Davies, National Pension Trust Chair of Trustees, says: ‘’The authorisation process has been a significant undertaking and involved a tremendous amount of collaboration between the Trustees, our Funder XPS, our Strategists and our Administrators. I was always very confident in the strength of our governance and the quality of our people, proposition and processes and it is gratifying to have achieved authorisation and have that formally recognised.’’
 Dave Hodges, Partner and Head of National Pension Trust, says: “The National Pension Trust is fully committed to providing the highest standards in DC workplace pension solutions and we are delighted that this has been recognised in achieving authorisation from TPR. We remain fully supportive of the authorisation process to ensure high standards are achieved and maintained in the master trust market and that members receive the best possible outcomes.’’

 SEI announced that the SEI Master Trust has been granted authorisation by The Pensions Regulator. 

 Allan Course, Capital Cranfield Pension Trustees Limited and Chair of the Trustees of the SEI Master Trust, said: “We are delighted to have our authorisation confirmed by the Regulator. However, as Trustees, our role extends far beyond meeting regulatory requirements. Throughout the authorisation process our primary focus remained on delivering the best possible outcomes for the thousands of members for whom we are responsible. We have continued to challenge ourselves, our advisers and our specialist providers to enhance and develop every aspect of the Master Trust in order to achieve this. We are therefore delighted that, with our authorisation now confirmed, the benefits of SEI Master Trust membership can be shared with an even wider audience”.

 Steve Charlton, Managing Director of Defined Contribution, EMEA and Asia for SEI’s U.K. Institutional Group, said: “Master Trust authorisation ensures some fundamental protections for members – ones they should have been able to take for granted - are now more firmly established across the industry. With a robust authorisation and supervisory regime now in place, we are delighted that the industry can focus on the biggest influencers to improve outcomes, namely each scheme’s contribution and investment approach. Throughout the authorisation process, we have continued to develop the design, implementation and communication of these hugely important aspects of our proposition. We look forward to sharing these developments with our prospective clients and their advisers over the coming weeks and months”.


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