The Pensions Regulator has confirmed that 15 master trusts have now received authorisation.
The latest three schemes to be authorised are the National Pension Trust, the Aon Master Trust and the SEI Master Trust.
SEI Master Trust chair of the trustees, Allan Course, 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.”
Around 30 master trust submitted authorisation applications to TPR by the April deadline, with a further 10 being granted a short extension. Decisions on around 25 master trusts are still pending.
Other authorised trusts include two master trusts from LGIM, the LifeSight Trust (offered through Willis Towers Watson), The Crystal Trust and the BlueSky Pension Scheme.
The following pension schemes have now been granted master trust authorisation:
- The Aon MasterTrust
- The BlueSky Pension Scheme
- The Crystal Trust
- Fidelity
- Industry-Wide Defined Contribution Section (Railways Pension Scheme)
- Legal & General WorkSave Mastertrust
- Legal & General WorkSave Mastertrust (RAS)
- LifeSight
- Mercer Master Trust
- National Pension Trust
- The Pensions Trust (TPT Retirement Solutions)
- The SEI Master Trust
- Standard Life DC Master Trust
- Stanplan A
- Universities Superannuation Scheme