Ascot Lloyd is the latest master trust provider to confirm that it is exiting the sector.
The provider confirmed that it will be winding down the scheme.
It said trustees are at present collating information on a number of other master trust providers, before a decision is made on a replacement default scheme for participating employers.
Ascot Lloyd is a national IFA offering a range of corporate advice and employee benefits. It has been accredited to provide a multi-employer master trust since 2016.
A number of master trust have exited the sector since The Pension Regulator announced a new authorisation regime. This required all providers to apply for formal authorisation.
The deadline to submit an application to TPR has now closed, with the regulator confirming that 30 providers met the initial deadline, with a further eight meeting the extended deadline.
Other providers to exit the market include Welplan Pensions, while Corpad Master Trust recently confirmed that it would transfer members to Smart Pension.
