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ARTICLE · 11 JANUARY 2018

Regulating Master Trusts: What Next?

Gowling WLG
Gowling WLG
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Gowling WLG

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The Department for Work and Pensions (DWP) is consulting on draft regulations for the new authorisation and supervisory regime for master trusts. You can read the full draft regulations and consultation here.

United KingdomEmployment and HR

The Department for Work and Pensions (DWP) is consulting on draft regulations for the new authorisation and supervisory regime for master trusts. You can read the full draft regulations and consultation here.

The Pension Schemes Act 2017 (PSA 17) has already set out the basic framework, so these regulations are intended to provide further details. But do they achieve their purpose and when will they come into effect?

This might at first sight seem only of interest to master trusts. But as many employers are using a master trust to meet their automatic enrolment obligations (rather than setting up and running their own scheme), they might be comforted to hear that the Regulator will be maintaining and publishing a list of authorised master trusts. This should help employers to provide access to arrangements which aim to deliver as good an outcome as possible for employees.

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