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Chair’s Statement

Dermot Courtier, Chair of the Mastertrust Trustees, reports back on how well your pension scheme has been managed during the last scheme year.

MT chair statement banner 2022

The Mastertrust Trustees' role is to ensure the money in your pension is safe and being well managed and we work with Legal & General to ensure your pension offers good value for money. We're delighted to share the progress made over the last scheme year, which runs from 6 April 2021 to 5 April 2022.

Dermot Courtier

We are pleased to report that our view is that members are receiving good value for money, rising to excellent in some areas.

Dermot Courtier

Independent Chair of the Mastertrust

There are two versions of the Mastertrust: the Legal & General WorkSave Mastertrust (RAS) and the Legal & General WorkSave Mastertrust (non-RAS). Ask your employer which one you’re in or use the guide below to help:


If your pension contributions are taken after you’ve paid tax on your earnings (your net pay), you’re in a ‘relief at source’ version of the Mastertrust.

2022 Chair’s Annual Statement (RAS)


If your pension contributions are taken from your salary before you’ve paid tax, you’re in a ‘non-relief at source’ version of the Mastertrust.

2022 Chair’s Annual Statement (non-RAS)
Our assessment - at a glance

Our assessment covers the period from 6 April 2021 to 5 April 2022.

In assessing ‘value for members’ we consider whether you’re getting a good deal by reviewing six different aspects of the scheme. You can see a summary of those aspects and our scores below. You can read more about how we assess value for members and why we’ve given each score in the full statement.

Value for Members category


Our assessment of the value you receive is

Default funds design and investment performance

How suitable the default fund arrangements are


Investment choice

The range of investment available and their performance



How prompt, accurate and useful the service members receive is


Costs and charges

Any costs members pay for their pension


Accessing your pension

The choice and ease that members have in accessing their pension savings


Member engagement

How accessible and clear member communications are


Cost of living

As we publish this report, we recognise that an unprecedented set of circumstances is having a real impact on finances and that members are extremely concerned about the effects of inflation on their cost of living. Legal & General has introduced a response hub where you can find out more about some of these issues in relation to your pension savings and where to get help.


The Mastertrust welcomes questions or feedback from members. If you have any questions, or would like to share feedback, please contact us