Master trust

The People’s Pension scheme (the Scheme) is a master trust. A master trust is a multi-employer occupational pension scheme in which each participating employer has its own section. The Scheme is governed by the Trustee Board in accordance with the Trust Rules. The Trustee’s responsibilities include scheme administration, governance and investment services. On the other hand, it would be down to each participating employer to make decisions on benefits and contribution levels. A master trust can be a very useful vehicle for employers to use to comply with their auto-enrolment duties and they typically offer employers lower annual management charges and increased governance when compared to some alternative arrangements.

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Employers