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.

It can help you manage the long-term cost of pension provision, especially with auto enrolment, by reducing future liabilities attached to running your own Defined Contributions Scheme. It can also offer a high level of scheme governance to benefit you and your employees.

We can provide a flexible approach to tailoring your scheme according to your budget, contractual obligations and company ethos.


  • 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)
  • Two alternative default investment options, including a target dated solution
  • The ability to agree own default investment option where you share governance
  • The ability to operate a salary sacrifice arrangement
  • An alternative option for trust based schemes which do not offer full pension freedoms

Members' benefits:

  • Access to a wide choice of investment options:
    • Legal & General funds, including index-trackers, Target Date Funds, actively managed funds and our innovative Future World Fund range
    • funds from specially selected external fund managers
    • range of lifestyle profiles and Target Date Funds
  • Online access for employees that allows them to view their savings, change funds and update their details in the years before they start accessing their pension pot
  • Access to a facilitated adviser charging service that enables them 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
  • An online financial wellbeing hub which provides practical tools and regularly-refreshed information and ideas to help them to find financial happiness