PLSA launches master trust committee

Today (Wednesday 19 October) the Pensions and Lifetime Savings Association (PLSA) has announced the launch of a Master Trust Committee to be the voice of master trust pension provision within its membership.  

Made up of 13 senior executives, the Committee will set the PLSA’s strategic direction on master trust policy, promote and support the development of the master trust market, and help savers in master trusts achieve a better income in retirement.

Joanne Segars, Chief Executive, Pensions and Lifetime Savings Association, commented:

“Launching the Pensions and Lifetime Savings Association last October, I said a top priority for the Association was to speak for all of the workplace pension’s community. Master trusts are a major force in today’s pension’s landscape counting many millions of the newly enrolled pension savers as their members. As they grow in scale and in number they face a growing number of complex issues – many of them unique to master trusts.

“Our new Master Trust Committee will ensure there is a dedicated voice for master trusts to government and regulators. The Committee will have a dedicated voice to proactively promote, and also defend, the master trust model. The Committee will act as an advocate for master trusts as a model of strongly-governed and value for money schemes, to develop a strategic and pro-active policy framework, for example helping to ensure the coming Pensions Bill delivers for savers. It will also act as a thought leader on issues relating to master trusts, for example through research and events.”

Chris Hitchen, Chair of the Master Trust Committee, commented:

“Master trusts are an important part of the PLSA’s membership and are critical to the future of the Government’s pension policy. The Committee is therefore a significant and positive step in the development of the relationship between the Association and master trusts and recognises the essential role of master trusts in automatic enrolment.

“Master trusts provide thousands of employers and millions of people with well-governed, value-for-money pension schemes. Without this, it is doubtful that automatic enrolment could have been so successful, especially among smaller businesses which may never have dealt with workplace pensions before.

“With the Government’s plan to regulate master trusts within the Pensions Bill, the PLSA’s Master Trust Committee will relay the message that master trusts embrace high standards and want to ensure the regulation and legislation governing master trusts continues to benefit savers.”

Following an election within the Master Trust Committee’s membership, Emma Douglas, Head of DC, L&G Investment Management, has been voted Vice Chair of the Committee.

Emma Douglas, Head of DC, Legal & General Investment Management, commented:

“I am delighted and honoured to accept this important role, and I look forward to working with this Committee to promote a well-functioning master trust market for the benefit of savers.”

The Committee will meet four times a year and may on occasion hold a joint meeting with the Defined Contribution Council and/or the Defined Benefit Council. This collaborative working will ensure the Committee’s objectives are understood by both councils and vice versa.

 

-ENDS-

  

NOTES TO EDITORS:

 

Committee members include:

MEMBER	POSITION	COMPANY/ SCHEME
Ken Anderson	Head of DC Solutions	Xafinity
Helen Dean	Chief Executive	NEST
Emma Douglas	Head of DC	L&G Worksave
Tony Filbin	Chair	BlueSky
Jamie Fiveash	Chair, PLSA DC MES Forum
Patrick Heath-Lay	Chief Executive Officer	The People's Pension
Chris Hitchen	Chief Executive	Railpen
Bruce Kirton	Chief Executive	Welplan
Fiona Matthews	CEO	Lifesight
Elspeth McKinnon	Chief Executive	Cheviot Trust
Gary Smith	Chair	Atlas
Michael Ramsey	CEO	The Pensions Trust
Andy Waring	Chief Executive	Ensign

 

Representative from the PLSA include:

Joanne Segars: Chief Executive

Graham Vidler: Director of External Affairs

Tim Gosling: Policy Lead: DC

 

CONTACTS:

Lucy Grubb, Head of Media and PR, Pensions and Lifetime Savings Association
T: 020 7601 1726, M: 07713 073023, E: [email protected]

Babak Mayamey, Press Officer, Pensions and Lifetime Savings Association
T: 020 7601 1718, M: 07825 171 446, E: [email protected]

Kathryn Mortimer, Press Officer, Pensions and Lifetime Savings Association
T: 020 7601 1748, M: 07901 007713, E: [email protected]