Research and analysis

Evolving the regulatory approach to master trusts

A review of the master trusts authorisation and supervisory regime and the wider market.

• From: Department for Work and Pensions
• Published: 22 November 2023

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Evolving the regulatory approach to master trusts

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Evolving the regulatory approach to master trusts

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A review of the master trusts authorisation and supervisory regime and the wider market; looking at market segmentation, costs, charges, consolidation, increasing scale, and the relationship with the Chancellor’s Mansion House compact and other Department for Work and Pensions (DWP) policies and policy proposals.

The report describes ways in which the Pensions Regulator is responding to this evolving market, and areas where the master trust authorisation and supervisory regime may need to be updated, with a particular focus on investment governance and working more closely with schemes as they grow.

Published 22 November 2023