Master trusts

    Why choose a Master Trust?

    Enjoy all the advantages of a trust based defined contribution scheme without the hassle of having to appoint your own trustees.

    What is a master trust?

    It’s a multi-employer pension fund which is centrally managed by a trustee board.

    It offers employers the benefit of more independent decision makers but with lower operating costs than a traditional single employer Trust Based Pension Scheme.

    Defined contribution scheme

    A pension built up through contributions from you, your employees and tax relief from the government.

    Why is it useful?

    This kind of workplace pension scheme is set up under trust, which means that employees’ pensions are one step removed from the employer. So pensions will be protected if the business runs into problems in the future.

    Appointing trustees to oversee a workplace pension can be costly and complex, but with a master trust there’s no need. An independent trustee is already on board to take care of that side of things.

    Why choose Standard Life's Trust Based Pension

    Why select Standard Life's Master Trust?

    First and foremost, we’re business people ourselves, and getting to know you, your business and the needs of your employees is our priority.

    What our Trust Based Pension can offer you:

    Happier members

    You can rely on us to keep in touch with your pension scheme’s members so that they stay engaged, value the workplace pension you provide and feel positive about their future finances.

    Always compliant

    We’ll do all the necessary reporting and supply the information needed to keep your workplace pension compliant with the new pension regulations for employers.

    A seamless journey

    To get your scheme set up and running smoothly, we’ll work with you to pinpoint your particular needs and plan the transition, and keep you updated on the latest pension news.

    Flexible features that adapt with you

    For example, buyout policies for leavers let trustees focus their efforts on active members. And an extra cash account is useful for keeping refunded employer contributions in the scheme and can be used by trustees to meet scheme expenses or offset future contributions.

    Who acts as trustee?

    Standard Life Master Trust Co. Ltd. (SLMTC) carries out all trustee duties for our Master Trust.

    SLMTC is a trustee company managed by a board of independent directors.

    Pitmans Trustees Limited (PTL) is the corporate director of SLMTC and chair of the board of directors.

    Investment approach

    Good outcomes for your members rest upon sound investment decisions. Employers can choose from our range of high quality, off-the-shelf investment solutions, each selected by experts. Or, for a more hands-on approach to managing investment strategy, we offer customised options such as:

    • Customised lifestyle profiles – offer your members greater personalisation
    • Scheme core fund ranges – streamline the range of funds available to keep things simpler
    • Blended funds (may be subject to extra charges)


    To help you manage costs, we operate a bundled charging structure.

    Our Summary of Trust Based Pensions

    Our Trust Based Pensions are ideal for schemes moving from defined benefit to defined contribution (DC), or for employers looking to maximise efficiencies. Standard Life is a market leader in the group DC market, and has been delivering innovative, flexible solutions for UK companies for over 25 years and manages all or part of the pension arrangements for a large number of leading pension schemes from both the public and private sectors.

    For more on our Master Trust

    Call us on 0345 278 5665

    We’re open Monday to Friday, 9am to 5pm. Calls may be monitored and/or recorded to protect both you and us and to help with our training. Call charges will vary.