Our priorities for 2023
The Trustees are constantly working to ensure the Mastertrust continues to meet the needs of our members and provide good value for money.
It's the Trustees' responsibility to make sure your scheme is run well. We set ourselves priorities for each year to ensure you receive value for the costs and charges you pay and that governance is of the highest standard. Our priorities are built around our core objectives, which are:
- Delivering value for our members
- Enhancing member outcomes and experiences through oversight of innovation and developments in the Mastertrust
- Excellent governance, that reflects the growing size and complexity of the Mastertrust
- Ensuring the ongoing resilience of the scheme
- Being proactive and flexible in our approach, so we can adapt to emerging risks and priorities
With these in mind, our priorities for 2023 are below. You can read about our progress against the previous year's priorities in our annual Chair's Statement.
Priorities
1. Taking a detailed look at the Mastertrust's sole governance default strategies - those where most members invest their savings.
2. Working with Legal & General Investment Management (LGIM) to understand the opportunities for greater illiquid investment exposure within our sole governance default strategies.
3. Working with Legal & General to make sure its big commitments to investing in digital channels enhances the experience of members.
4. Increasing members' digital engagement.
5. Ensuring timely delivery of the pensions dashboard and other regulatory duties.
6. Continuing to focus on measuring Trustee Board diversity.
7. Supporting the growth of the Mastertrust to enable improved value for members through continued investment from Legal & General.
8. Ensuring the Trustees' excellent governance message is heard by members, employers and, where appropriate, the market.