Tag Archives: master trust

Trapped! What if you’re in a failing master-trust?


  Duncan Buchanan’s articles in Pension Expert are always worth reading, and his latest blog in Pensions Expert is no exception. He looks at small master trusts and asks just what would happen if one decided to pack it in. He … Continue reading

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Did the 2018 IGC reports meet today’s challenges? Only in part.


    The table above reports on the various ratings given to IGC reports in 2018, it includes the GAA report of St James Place that is good enough to be an IGC report. I said, when I set out … Continue reading

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Consolidation – Darren Jefferson says it’s only just begun.


It’s all around us, auto motive manufacturers, lawyers, employee benefit consultants, you name it. The same reasons for the deal are usually given whether you believe them or not, ‘We complement each other really well’ ‘it will allow us to … Continue reading

Posted in auto-enrolment, pensions | Tagged , , , | 1 Comment

How to run a pension at 1/30th the cost of the pension charge cap.


  How much does it cost to actively manage Alecta, Sweden’s largest workplace pension provider? The answer, according to Magnus Billing – is 0.024% of the funds assets each year. That’s less than 1/30th of the 0.75% cap imposed by … Continue reading

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Time for the master-trusts to show their investment mettle.


I have a problem with the accountability of master trusts for their investment outcomes. To my knowledge, only NEST (in Mark Fawcett) has an appointed individual responsible for the member’s investment outcomes. Other master trusts may have internal accountabilities, but … Continue reading

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How payroll can get pension-smart (without really trying!)


Pensions are important. They occupy our press, parliament and they occupy payroll! For better or worse we have wedded payroll to work and unless you are on a payroll, it is increasingly unlikely that you are earning much more than credits … Continue reading

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Is contract-based versus trust-based really the question? Guest Blog from Ralph Frank


Automatic Enrolment (“AE”) has resulted in an increase in Defined Contribution (“DC”) pension saving through Master Trusts (“MTs”).  This trust-based approach has overtaken contract-based arrangements, such as Group Personal Pensions, as the most popular form of DC saving.  A key … Continue reading

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The soft underbelly of master trusts


  Many master trusts are absolutely rotten – they are not fit for purpose. Lots of advisers are using them as a back door way of bringing in commission, dressed up as high governance charges. The words of Barnett Waddingham’s … Continue reading

Posted in accountants, advice gap, auto-enrolment, pensions, Pensions Regulator | Tagged , , , , , , , , , , , , , | 2 Comments

Who is the master? Who can be trusted? Guest blog from Ralph Frank


  There has been increasing clamour in recent times for more stringent regulation of Master Trusts.  The Government has duly obliged, tacking a Pensions Bill onto the Queen’s Speech.  The details of the Bill are currently light, although it is … Continue reading

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How we sort the master trust problem


  I sat next to someone at a meeting yesterday whose demeanour, ideas and the articulation of those ideas, was so impressive that I was at times scared to open my mouth. I felt in the presence of greatness. I’ve … Continue reading

Posted in pensions, Retirement, workplace pensions | Tagged , , , , , , , , | 4 Comments