The National Pensions Trust submits application for master trust authorisation and appoints two additional trustees

14 March 2019

Over the last few months the National Pension Trust team and trustees have been highly focussed on delivering a robust application for authorisation. We have worked closely with the Regulator to make sure our application covered all the areas required and remain fully supportive of the authorisation process to ensure high standards within the master trust market.

At the same time as completing the application exercise, we are delighted to have secured two additional independent professional trustees to the board of trustees for the National Pension Trust. The appointment of Gurmukh Hayre, of Hayre Trustee Services Limited, and Gerald Wellesley, of Punter Southall Governance Services Limited, increases the size of the board from three to five trustees and broadens the skills, knowledge and experience of the board.

Ian Davies, National Pension Trust Chair of Trustees, says: “Gurmukh and Gerald bring a wealth of experience of the DC and financial market place, particularly in relation to investment design and member engagement. Their skills and knowledge enhances and broadens the expertise of the board, to deliver strong governance to protect and support members of the Trust. We believe our authorisation application to be compelling.”

Dave Hodges, Head of DC and National Pension Trust at XPS Pensions Group, says: “The National Pension Trust is fully committed to providing the highest standards in DC workplace pension solutions. With Gurmukh and Gerald joining the trustee board at the same time as our application for master trust authorisation, we believe this clearly demonstrates our commitment and desire to be a leading master trust provider of choice post authorisation.”

ENDS

For more information please contact:

Louise Dolan, Partner, Camarco

Tel: 020 3757 4982 / 07446 870025

 

Rebecca Noonan, Associate Partner, Camarco

Tel: 020 3757 4981 / 07900 340483

 

Notes to editors:

The National Pension Trust (NPT) is a multi-employer master trust offering members full retirement flexibilities. Economies of scale and cutting edge technology means charges are low for members and there are no ongoing costs for employers.

 

XPS Pensions Group is the largest pure pensions consultancy in the UK, specialising in pensions actuarial, investment consulting and administration, with revenues of over £110 million. The XPS Pensions Group business combines expertise, insight and technology to address the needs of both pension trustees and sponsoring companies for over 1,200 pension schemes, including 25 with over £1bn of assets, and undertakes pensions administration for over 800,000 scheme members.

 

www.xpsgroup.com

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