Easing the pension burden on employers. Helping to deliver better futures for employees

Our Legal & General Mastertrust offers all the flexibility and benefits of a trust-based scheme but without the responsibility of running a trustee board.

It can help employers manage the long-term cost of pension provision, especially with auto-enrolment, by reducing the future liabilities attached to running their own defined contributions scheme. It can also offer a high level of scheme governance to benefit employers and employees alike.

Yet while being in a multi-employer scheme simplifies the process of managing employee benefits and keeps costs down, each participating employer is treated separately within the Mastertrust to allow for a tailored approach to individual budgets, contractual obligations and company ethos.

And our Mastertrust also offers the option of the Future World Multi-Asset Fund for employers who wish to offer their members a default arrangement that takes a positive ESG stance.

Overview

Key features of our Mastertrust for your clients:

  • The flexibility to:
    • accept no responsibilities of trusteeship or share governance and scheme design
    • 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 funds
  • The option of the Future World Multi-Asset Fund for employers who wish to offer their members a default arrangement that takes a positive ESG stance
  • The ability to agree own default investment option where governance is shared
  • The option to operate a salary sacrifice arrangement
  • An alternative option for trust-based schemes which do not offer full options for members to access their retirement savings
  • Access for employees to manage their accounts online through our Manage Your Account portal
  • The option of using Coll8, a mobile app that can be downloaded from any app store and allows employees to take control of their retirement savings on the move. Features include:
    • the ability for employers to personalise the app with their own company branding
    • access to the scheme website, campaign resources and our financial wellbeing hub, Go&Live
    • access to specific features like our ESG engagement platform, Tumelo
    • the ability to integrate other aspects of an employer’s internal business applications using single sign on to create one access point for their employees to find in-house communications

Members' benefits include:

  • access to a wide choice of investment options including:
    • Legal & General funds such as index-trackers, Target Date Funds, actively managed funds and our innovative Future World Fund range with its positive ESG stance
    • funds from specially selected external fund managers
  • a facilitated adviser charging service that enables members to meet the cost of professional financial advice from their pension pots
  • a range of online education materials and useful tools to help them manage their workplace pensions
  • an online financial wellbeing hub which provides practical tools and regularly refreshed information to help support with budgeting and planning for key events throughout their lives
  • access to the online Manage Your Account portal to view their savings, change funds and update their details in the years before they start accessing their pension pots
  • a mobile app called Coll8 that can be downloaded from any app store and allows members to take control of their retirement savings on the move. Features include:
    • the ability to connect to Manage Your Account to perform transactions, visit the scheme website and view Legal & General’s financial wellbeing hub
    • a link to their company’s website to view internal communications and business information such as HR systems and employee discount schemes