Hogan Lovells

Key Dates

Consultation and draft policy issued 26 July 2018.

Consultation ends on 23 August 2018.

Regulations concerning master trusts intended to be laid before Parliament in autumn 2018.


The Pensions Regulator has issued a draft policy on the supervision and enforcement of the requirements applicable to master trusts.  The consultation  explains that routine supervisory activity will be carried out in relation to all master trusts, with additional supervisory activity determined by a range of factors set out in the policy.  In particular, in the first year of the authorisation regime additional supervision will be primarily driven by the impact of the master trust on the market, including the number of scheme members.  Subsequently, the Regulator expects increasingly to factor in the likelihood of risks when determining the appropriate level of supervision.  In addition, new master trusts can expect a higher level of supervision than established trusts.

Date Accessed: 28/05/2022