Northern Ireland pension firm among 20 in UK to receive approval
A Belfast-based pension firm has become the first here to be recognised for its service as a master trust provider.
The not-for-profit Workers Pension Trust received a Master Trust Authorisation from The Pensions Regulator, making it one of only 20 in the UK to receive the approval.
Master Trust Authorisation requires providers to offer the highest levels of governance and has forced 40 providers to exit the market due to its stringency.
John Armstrong, managing director of Workers Pension Trust - the largest private sector pension scheme based here - said: "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 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."
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