With Welplan Pensions exiting Master Trust market, how safe is your Pension Scheme?
Welplan Pensions has exited the Master Trust market and says it is seeking a buyer for the pensions it holds. They say this decision was made in response to the Pensions Regulator’s new authorisation regime, which they said was “cost-prohibitive” for many smaller and medium-sized trusts. As a result Welplan says it was “no longer viable” to continue to support its master trust scheme over the longer term.
Welplan says the scheme will continue to support its 1,900 participating employers and 55,000 individual members until they can be transitioned to a new provider, the company also says it will be working closely with its trustee board to actively seek another master trust provider to take over this business.
So, there are 2 questions:
How safe is your Workplace Pension Scheme? and
How confident are you that you have the best Workplace Pension Scheme for you and your employees?
At Corinthian Benefits we'll do all of the hard work for you to make sure you can answer these questions. Even better, you might even save money - most of our clients do when they switch to us!
Why not find out if you can too. Give us a call today and see how we can help you.