Master trust consolidation looms but is the industry ready?

Last month's Queen's Speech outlined the Pensions Bill 2016 which will now be launched in the House of Lords in September and become law early next year. In this Bill, the issue of tightening regulation of master trusts makes it onto the legislative agenda following a period of voluntary regulation called the Master Trust Assurance Framework which many providers have elected not to sign up to. When this new bill goes live, master trusts will have to demonstrate that schemes meet "strict new criteria before entering the market and taking money from employers or members". Existing schem...