Our WorkSave Pension Mastertrust offers all the flexibility and benefits of a trust based scheme but without you taking on the responsibility of running a trustee board.

It's a multi-employer scheme. Each participating employer is treated as a separate scheme within the Mastertrust.

  • Flexibility to:
    • accept no responsibilities of trusteeship or
    • share governance and scheme design
  • Option to choose whether members receive tax relief on their contributions through:
    • traditional net pay or
    • at source
  • The provision of trustee support services
  • A default investment for auto enrolment (chosen by Legal & General)
  • Ability to agree own default investment option where you share governance
  • The ability to operate a salary sacrifice arrangement
  • This could be used for other trust based schemes which do not offer full pension freedoms

Members' benefits:

  • Access to a wide choice of investment options:
    • own funds, including index-trackers, target date funds and actively managed funds
    • funds from specially selected external fund managers
    • lifestyle profiles
  • Online access for employees that allows them to view their savings, change funds and update their details whenever they want in the years before they start accessing their pension pot
  • Access to the adviser charging service that enables members to meet the cost of professional advice from their pension pot
  • A range of online member education and other useful tools to help manage their workplace pension

Flexi-access drawdown:

  • £30,000 pension pot before PCLS, for regular income
  • £100 minimum income per month or £2,000 minimum ad hoc drawdown

Cash lump sum:

  • Full - Yes (25% tax free with 75% as taxable income)
  • Partial – Yes (£2,000 minimum. 25% tax free with 75% as taxable income)


  • Yes - from any chosen provider

Transfer out:

  • Yes - member's pension pot can be transferred to another pension provider to access their retirement options