Some things are foreseeable. As automatic enrolment has created hundreds of thousands of new pension memberships, so the defined contribution (DC) market was inevitably going to grow.
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Last July on this blog page, I made a commitment to delivering a new regulatory approach for TPR that reflects the political and economic pressure that continues to shape the pensions world, and to ensure savers are better protected.
A few years ago we started to stamp our feet about master trusts. As automatic enrolment successfully swept through businesses and more and more people were being put into workplace pensions, master trust schemes grew in popularity.
Master trust authorisation is essential for the development of a safe and sustainable market of defined contribution (DC) schemes, and we’ve been pushing for it for some time.
