Emma Martin discusses managing master trust moves in Pensions Expert

Emma Martin, Senior counsel discusses the challenges employers and trustees face when considering switching master trust providers, a trend increasingly likely due to the upcoming Value for Money regime. Like any relationship, navigating the ‘split’ can be tricky.

As the master trust market matures, many employers and trustees are looking to change providers, but the process can be complicated. Issues may arise due to legal documentation, bulk transfer restrictions, or differing opinions on whether transferring members’ pension savings is in their best interest.

The decision to switch often involves assessing whether the transfer offers better value for money, though there is currently no standard framework for such assessments. While employers may want to move accrued pots to a new trust, it is typically the master trust trustees who decide if it’s in members’ best interest.

Read the full article Pensions Expert: Breaking up is hard to do: Managing master trust moves