Legal & General Mastertrust gains authorisation from The Pensions Regulator
The trustees are pleased to announce that the Legal & General Mastertrust is the second master trust to receive authorisation from The Pensions Regulator (TPR).
Launched in 2011, the Legal & General Mastertrust now has more than £5.7 billion in assets under management, on behalf of approximately 830,000 members.
Dermot Courtier, Chair of the Legal & General Mastertrust, commented: “As one of the first Mastertrusts to be authorised, we are proud to be recognised as part of the industry-wide move towards higher governance, security and better protection for pension scheme members.”
Emma Douglas, Head of DC at LGIM said: “With increases in minimum contribution levels under auto enrolment due imminently, savers need to feel confident that master trust providers are adhering to high standards of governance, to deliver the best possible retirement outcomes. One of the PLSA’s key policy priorities is ‘well governed schemes’ and the rigorous standards applied to master trust authorisation will help the industry achieve this.”
Mastertrusts that receive authorisation are published on the TPR's website.