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TRUST|Pensions is a guaranteed acceptance master trust launched for SME market
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No minimum firm size, no minimum contributions, no exit fees
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Investment options from AllianceBernstein, Architas, LGIM and HSBC
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Default investment option is BirthStar® Target Date Funds, managed by AllianceBernstein
Designed to make automatic enrolment as straightforward as possible, TRUST|Pensions has been developed for use by accountants and intermediaries who need a hassle-free, best practice solution for their corporate clients. Terms of joining the scheme can vary for each employer to dovetail with their needs.
TRUST|Pensions will provide additional, quality scheme choice for employers and advisers reviewing their initial automatic enrolment arrangements.
The scheme is run by independent professional trustee company, Bridge Trustees Limited, a 100% owned subsidiary of Eversheds LLP, one of the world’s largest corporate law firms.
Investments are held through the AXA Wealth Corporate Trustee Investment Plan, with different investment managers providing investment options. These include:
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Risk Profiled Funds: Multi-Asset Passive Funds managed by Architas
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Ethical: LGIM Ethical Global Equity Index Fund
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Sharia: HSBC Life Amanah Pension fund
The default investment option is BirthStar® Target Date Funds which are dynamically managed by AllianceBernstein, winner of the Ultimate Default Fund 2015.
There is no cost to employers joining the scheme, but there is the option of paying for an Assisted Set-Up Service and optional Assessment & Communications middleware at a competitive cost. For employers who want or need to sign themselves up quickly and easily, there is an Express route that uses standardised terms.
TRUST|Pensions looks to work closely with accountants and advisers to help employers meet their duties.
Information about the scheme is available through Pensions PlayPen, Accountancy Web, Panacea Adviser, Defaqto, or direct from the website www.trustpensions.org.uk
Ian Davies, CEO of Bridge Trustees Limited
“As trustee of the scheme, we are responsible for ensuring the best interests of the membership. As a new scheme, there is the advantage of ensuring the procedures, process and governance around the scheme is in line with forthcoming regulatory guidance from the very start.”
Rachael Harris, Head of Business Development, TRUST|Pensions
“TRUST|Pensions has been designed for smaller SMEs who need a simple low-cost solution, to make automatic enrolment as straightforward as possible. We are making automatic enrolment easier for not only employers staging this year, but also for employers and advisers reviewing their initial automatic enrolment arrangements. The scheme has been live since October for selected clients, and feedback has been good.”
Tim Banks, AllianceBernstein
"We are delighted to have been chosen by the trustee to power the default investment option for TRUST|Pensions. Our ethos is providing better and easier ways to manage members' investment strategy, delivering professionalism and flexibility now and in the future. With thousands of employers having to stage this year, we expect an growing interest in the clear and outcome orientated solutions offered by target date funds."
Henry Tapper, Pensions Playpen
"We’re pleased to see new fund options available to employers for default workplace pension schemes. The BirthStar funds offer management that diligent employers should consider. With TRUST|Pensions’ unique on boarding service, we expect this to become a compelling proposition and we are pleased it has been elected by First Actuarial to www.pensionplaypen.com ’s short-list of providers."
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