Picking the right type of pension for you and your employees is important.
Your business works best when your employees know they’re valued not just for the work they do, but for who they are. Providing a well-governed, well-run workplace pension is a key part of helping them understand your commitment to them.
Our Master Trust is designed to support you and your employees at the key moments that matter, and has recently received numerous industry awards and accreditations including:
- Master Trust Offering of the Year at the 2022 Pensions Age Awards
- Gold rated by Benefits Guru
- 4 star rated by Defaqto
We offer both Master Trust and Own Trust solutions. These types of pensions are run by a trustee appointed by us or you.
Why consider a trust-based pension?
A trust-based pension can meet your needs as an employer by delivering robust governance and flexibility to help ensure good outcomes for your employees.
Needing a trust-based pension solution?
If you’re thinking about moving from a DB scheme to a DC scheme, a trust-based solution might suit your and your employees' needs.
There’s no single right way to go about things when it comes to workplace pensions – call us to discuss your options and see what suits your business best.
Benefits of a trust-based pension
Easy to manage
We’ll set you up with a dedicated online administration platform, so that it’s simple for you to set up your pension scheme and manage everything in one place.
You can count on us to keep in touch with your employees to help them stay engaged, value the workplace pension you provide and feel positive about their future finances.
Online employee dashboard and mobile app
Employees can easily register for our online dashboard to view and manage their pension. They can do this through our online servicing and our mobile app.
Making retirement decisions can be a daunting time for any employee. Members of our Master Trust solution are able to take advantage of pension freedoms, by accessing their plan directly within their workplace scheme. Our in-scheme drawdown solution allows employees to access their benefits within the same plan, meaning they can continue to make pension contributions if they want to continue working and have the advantage of retaining their existing scheme terms. They also have the continued reassurance of Trustee oversight of their scheme.
We’ll do all the necessary reporting and supply the information needed to keep your workplace pension compliant with pension regulations for employers.
A seamless journey
We’ll get your scheme set up and running smoothly. We’ll work with you to pinpoint your particular needs, plan the transition and also keep you updated on the latest pension news.
The scheme is run by a board of trustees who are responsible for governing the scheme, ensuring members' interests are protected and that the pension offers value for money to members.
Whether you choose a contract-based or trust-based pension, investment decisions play a huge part in good outcomes for your employees. We offer a range of high-quality investment options managed by experts. Or if you're looking for investment options that meet specific requirements, and your scheme meets certain criteria, we offer some customised options, including:
- customised defaults and lifestyle profiles - tailored to your employees' needs
- selected fund ranges - a shortlist of funds to keep things simpler for your employees
- blended funds - blend together funds from our range to create funds that are customised for your employees' needs (additional charges may apply)
Read more on our investment options
Our summary of trust-based pensions
Standard Life is well thought of in the group DC market – we’ve been doing this since 1974 and are recognised as one of the leading providers in the industry. Our solutions are ideal for schemes moving from DB to DC, or for employers looking to maximise efficiencies.
We’ve also been delivering innovative and flexible solutions to UK businesses for over 25 years. We manage all or part of the pension arrangements for a large number of leading pension schemes from both the public and private sectors.