Consultation outcome

Draft Occupational Pension Schemes (Master Trusts) Regulations 2018

This consultation has concluded

Download the full outcome

Government response: Master trust authorisation and supervision regime

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Detail of outcome

We published the government response to this consultation on 19 March 2018.

Original consultation

Summary

This consultation seeks views on draft regulations for the authorisation and supervisory regime for master trust schemes under the Pension Schemes Act 2017.

This consultation ran from
to

Consultation description

In the Pension Schemes Act 2017, a master trust scheme is defined as an occupational pension scheme that:

  • is used by more than one employer
  • provides money purchase pensions (either alone or with other benefits)
  • is not a public sector scheme or used only by connected employers

The aims of the master trust scheme authorisation and supervision regime are that:

  • members of master trust schemes have equivalent protections to members in other types of pension schemes
  • the risks specific to master trust scheme structures including the size and scope of schemes, lack of employer engagement, diverse business models and other factors that influence their financial resilience and viability, are proportionately and proactively regulated
  • there is an appropriate balance between preventing risks occurring and giving The Pensions Regulator powers to intervene when necessary

Documents

Occupational Pension Schemes (Master Trusts) Regulations 2018 consultation

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Impact assessment: Occupational Pension Schemes (Master Trusts) Regulations 2018 consultation

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Published 30 November 2017
Last updated 19 March 2018 + show all updates
  1. Added the government response to this consultation on 19 March 2018.
  2. First published.