Mercer Master Trust: defined contribution pension solution Ireland
What are master trusts and why are they growing in popularity?
The introduction of IORP II and other complex regulations has increased the demands on trustees and employer sponsors of traditional trust-based occupational pension schemes.
As a result, many defined contribution (DC) schemes are now exploring master trusts as an alternative approach, while most new plans are being established under a master trust. A master trust is a multi-employer DC pension scheme governed by a single professional trustee board. The Mercer Master Trust essentially combines our DC solution, Mercer Aspire, with professional trusteeship.
Master trusts provide all of the advantages of a traditional trust-based scheme but with less time, cost and effort needed to meet IORP II and other challenging regulatory obligations.
Are master trusts appropriate for all occupational pension schemes?
Whether you are a large, small or medium-sized scheme, moving to a master trust can reduce the burden of trusteeship and the weight of increasing regulation due to IORP II.
For employers with an existing DC plan, there is growing recognition of the benefits of the master trust model in terms of cost and risk reduction, quicker adoption of best practices and the efficient management of deferred members, particularly in light of IORP II.
Master trusts may also be of interest to any employer starting an occupational DC pension scheme for the first time.
With the planned introduction of an auto-enrolment retirement savings system in 2024, many employers are weighing up the merits of setting up their own scheme for the first time under a master trust.
What to look for when choosing a master trust occupational pension scheme
Why choose the Mercer Master Trust?
By integrating our superior investment, administration, communications and IORP II governance capabilities, the Mercer Master Trust helps deliver a high-quality, value-for-money occupational pension solution that minimises the associated time, costs and risks for sponsoring employers.
With the Mercer Master Trust, you can be assured that your scheme adheres to best practice while quickly adapting to and evolving with regulatory, investment, technology and economic changes.
Mercer’s size, experience and expertise, coupled with our world-class investment, administration, governance and communications capabilities, uniquely position the Mercer Master Trust to deliver the most compelling master trust experience in the Irish market.
Market-leading1 investment performance, secure and member-focused administration and empowering communications are seamlessly integrated using a unique governance approach that leverages Mercer’s experience in master trusts from Ireland and across the globe.
Mercer is passionate about, and strongly committed to, master trusts. We will continue to be one of the key innovators in this field not just in Ireland but also across the globe.
Key features and benefits of the Mercer Master Trust
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