Master trust

The People’s Pension is one of these. It’s basically a pension scheme that multiple employers can use – with independent Trustees who look after pension savings on behalf of all the employees who are members.

Also known as a ‘multi-employer scheme’.

In August 2019, The People’s Pension was granted master trust authorisation. All master trusts must meet the authorisation requirements (and meet ongoing supervision) to continue operating.  The Pensions Regulator (TPR) oversees both authorisation and supervision. Having master trust authorisation means The People’s Pension is recognised and approved by TPR as a master trust that’s properly run and governed in the best interest of its members.