Master trust launches in-house drawdown and cuts fees

Not-for-profit operation

clock • 1 min read

The Ensign Retirement Plan has reduced its annual management charges and introduced an income drawdown facility, in a bid to better prepare members for retirement.

The shipping and maritime industry-wide defined contribution (DC) master trust lowered its annual charges from 0.36% to 0.31% on 1 April. The in-scheme income drawdown facility will mean members no longer having to transfer their money out of the plan in order to use income drawdown. It has also launched a personalised gudiance service for members. The move comes alongside the three-year anniversary of pension freedom legislation being enacted. The not-for-profit, occupational scheme's chief executive Andrew Waring said a well-run, sustainable pension scheme should not only provide...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Majority of self-employed women fail to assess maternity leave/retirement impact

Majority of self-employed women fail to assess maternity leave/retirement impact

Just 18% said they had completed detailed planning on mat leave financial impact

Jenna Brown
clock 09 March 2026 • 2 min read
Everything advisers need to know about using a DB SSAS

Everything advisers need to know about using a DB SSAS

A DB SSAS operates using the regulatory framework as traditional DB pension arrangements

Caitlin Southall
clock 06 March 2026 • 4 min read
Pension transfer times got faster in 2025

Pension transfer times got faster in 2025

Transfer times took 10.2 days to complete on average, Origo finds

Jasmine Urquhart
clock 05 March 2026 • 1 min read