AVIVA OFFERING RETAIL MASTER TRUST
Aviva has launched a Corporate Master Trust for group pension schemes, and Richard Hales, Pension Proposition Manager, says the company is seeing strong takeup driven by IORP II compliance and the competitive product and fund options.
“Aviva will also be offering a solution to one-member arrangements by way of a Retail Master Trust from November 2022,” Hales adds. “This promises to be an exciting proposition with an excellent fund range and competitive pricing.”
Hales explains that IORP II regulations means that the cost of compliance is such that small to medium size group scheme cannot afford the costs involved.
“I would say that anyone considering a Master Trust to look out for the following:
Do the trustees of the Master Trust meet the requirements of the Pensions Authority in their Code of Practice?
Does the Master Trust offer value for money?
Are the charges clear and well explained?
What are the investment options available?
How does the Master Trust compare to others in the market?”