The National Pension Trust

The National Pension Trust was designed from a clean sheet of paper. This allowed us to ask relentless questions and build what we agreed to be optimal structure. Breaking it into its component parts, we have selected the “best of breed” suppliers for each element and the result is a market-leading scheme, built without compromise.

The structure of NPT


Provide administration and consulting services, and 'Founders' of the Trust.

Fund Managers

Industry-recognised investment providers including HSBC, L&G, Newton, Standard Life and Threadneedle.

Provide software and payroll services.

Provide independent financial advice to members.

Provide audit services.

Provide investment platform and asset transition services

Provide legal services


About XPS Pensions Group

Following our merger of Xafinity and Punter Southall in January 2018, XPS Pensions Group became the largest purely pension consulting and administration firm in the UK. 

As the only UK pensions specialist listed on the FTSE we have the flexibility to think and act differently. Our unique structure means that we can make transparent, long-term investment decisions in our business for the good of our clients and pension scheme members.

We advise over 1000 pension schemes and administer pensions for over 870,000 members and we employ over 1200 staff across 15 UK locations.

Case Study

NSL chose to use NPT (National Pension Trust - a mastertrust arrangment that offers the employer tightly-controlled costs, combined with a high level of service and governance). Download the PDF below to read more...