What is a Master Trust ?

Approximately 1.3 million people in Ireland have no private pension provision.

And the pension landscape in Ireland is set to become even more challenging for employers, who need to critically think about the role of Trustees when setting up or continuing to run a Defined Pension Scheme.

However, there is a big opportunity for you and your business to improve your pension offering.

What is a Defined Contribution DC Master Trust ?

A DC Master Trust is designed for multiple non-associated employers under one trust arrangement. Each plan continues to be administered separately and importantly compliance with the new onerous regulator requirements. However, the employer scheme benefits from being under the one single trust and the economies of scale that go with it i.e. resourcing administration, investment management, trustee costs, legal advisor costs and auditing costs.

What do you need to do if you are an employer ?

You need to recognise the legislation has changed significantly and your scheme needs to begin to adapt.

What are the advantages of an employer using a Master Trust ?

The employer has no need to establish its own scheme, appoint registered administrators and investment managers or liaise with the Pensions Authority and Revenue.

There is no need to appoint trustees or auditors to your individual scheme. This should reduce associated costs and senior management time in operating your own DC scheme.

How can Nelson Life help your business ?

At Nelson Life, we have access to the leading Master Trust providers, from the strongest providers and have access to market leading technology.

Based upon the size of your business and, we can ensure that the solution offered to you allows you to offer the best fit plan - for your business and your employees.

You will also continue to be free to decide on eligibility and the exact benefit structure for members i.e. how much going to invest etc.

Our role at Nelson Life as professional pension advisors is to encourage pension take up by employers. We see this as a big opportunity for you to make sense of pensions and add extra benefit to your employees future.

We are available to discuss your options, and we look forward to hearing from you.

telephone | 091441188 and/or email | office@nelsonlife.ie

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