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Hogan Lovells

Authorisation of master trusts: problems ahead for non-associated multi-employer (NAME) schemes?

23 January 2017

New legislation will cause master trusts to be subject to a detailed authorisation process and ongoing scrutiny by the Pensions Regulator. As currently drafted, the new provisions will catch non-associated multiemployer (NAME) schemes, including those which provide defined benefits with money purchase additional voluntary contributions (AVCs). The new requirements are not designed with NAME schemes in mind, and some will be difficult for NAME schemes to comply with.

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