TPT Retirement Solutions, a leading workplace pension provider, has been granted Master Trust authorisation from The Pensions Regulator (TPR).
The Master Trust received approval on 18 June 2019 after it applied in February of this year.
Speaking on the announcement, Mike Ramsey, CEO at TPT Retirement Solutions said:
We are delighted to have received authorisation for our DC Master Trust. As a provider of DC schemes to over 2,600 employers and 222,000 members, this acknowledges TPT’s ability to meet the ever increasing regulation required to improve governance and protect member benefits, something that is very much at the heart of our DC offering.
TPT’s DC Master Trust is one of the UK’s oldest and largest UK Master Trusts with over £1.4 billion in assets under management.
It was one of the first to introduce Target Date Funds (TDFs) which dynamically manage investments allocation for members through their retirement savings journey. A recent article in The Sunday Times highlighted TPT as being one of the top 3 DC investment performers over a 5 year period (10.1%)*.
For the full list of authorised master trusts please click here
*Corporate Adviser Intelligence, Master Trust and GPP Defaults Report, June 2019.