DC Master Trusts

A DC "master trust" is a trust based defined contribution scheme designed for multiple employers. Membership is set up and administered seperately for each participating employer.

The governance of a master trust is often delegated to a corporate trustee independent of the employers. The independent trustee has overall responsibility for monitoring the investments and administation to ensure the interests of the members are given the highest priority.

The National Employers Savings Trust (NEST)

NEST is a master trust that was set up under an Act of Parliament and is operated on the same basis as other DC master trust arrangements. The scheme, which is run on a not-for-profit basis, ensures that all employers have access to suitable, low-charge pension provision to meet their duty to enrol all eligible workers into a workplace pension automatically. 

Further information on NEST can be found here.

Master Trust arrangements

A number of master trust arrangements exist and further information on some of the other master trusts can be found below.