Workers Pension Trust has become the first Northern Ireland based pension provider to be awarded Master Trust Authorisation from The Pensions Regulator.

Workers Pension Trust, a not for profit organisation, is the largest private sector pension scheme based in Northern Ireland.  It has achieved considerable success in recent years, enrolling more than 85,000 members from over 5000 organisations in Northern Ireland and Great Britain.  Master Trust Authorisation recognises the exceptionally high standard of Workers Pension Trust.

Discussing the Master Trust Authorisation and the scheme’s growing popularity, John Armstrong, Managing Director, Workers Pension Trust, commented:

“Securing Master Trust Authorisation is a complex and rigorous process and we are absolutely delighted to be the first Northern Ireland based provider to have achieved this prestigious accreditation.

“Authorisation creates safeguards by ensuring master trusts are run by fit and proper people and have the right systems, processes, plans and finances in place.  We believe that it will not only further improve the outcomes for our members and participating employers but will also serve to reassure them that Workers Pension Trust is the right provider.

“Workers Pension Trust is currently one of only 20 UK master trusts that have achieved authorisation to date.  A further 40 UK master trusts have already exited or intend to exit the market as a result of The Pensions Regulator’s demanding regulatory regime which requires master trusts to evidence the highest levels of governance.”

Mr Armstrong continues: “Workers Pension Trust is helping thousands of people to save for their retirement.  More than 5,000 businesses, spanning a wide range of sectors, have entrusted us to look after the pension needs of their employees and we have the experience to guide employers through every step of the process.”

Workers Pension Trust, which operates from its Belfast headquarters, was established to meet the needs of local businesses and is the only Northern Ireland based auto-enrolment solution.  It is open to all employees across the UK.

For more information on Workers Pension Trust, please contact Jenda McSwiggan on 028 9087 7142 or email jendam@workerspensiontrust.co.uk