BlackRock has become the latest in a line of providers and asset managers to launch a master trust before auto-enrolment.
The master trust will provide scheme administration, an investment platform and member engagement tools. Trustee services will be provided by Independent Trustee Services.
The product will offer employers a pre-selected range of funds including a default, or allow them to customise their own fund range using BlackRock's platform.
Employee members of the master trust will have access to Target Plan, BlackRock's savings modelling tool.
BlackRock head of defined contribution business development and client relations Paul Bucksey (pictured) said: "We have seen significant interest in the master trust, both from existing clients as well as the wider market, and expect demand to accelerate as we move into the auto-enrolment era."
Several providers have launched master trusts over the past year in preparation for an influx of small employers into pension saving.
Standard Life, the Pensions Umbrella Trust, ATP, Goddard Perry, Legal and General and B&CE have all launched master trust propositions in the past 12 months, with some directly marketing themselves as competitors to the National Employment Savings Trust.
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