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Premier launches suite of DB, DC and Death in Service Master Trusts


Premier has launched a suite of Master Trust services for the DB, DC and Death in Service markets, for employers who are looking for an alternative to the task of running the scheme themselves.

Ian Gutteridge, director at Premier, says: “Our DB Master Trust, the Premier DB Solution is designed to offer all employers a safe home for their legacy schemes, with Premier taking care of all aspects of the administration and governance. To help us achieve this with an independent perspective, we have constructed a trustee board that includes representatives from Capital Cranfield, BesTrustees and Capita Pension Trustees, in addition to three representatives from Premier.
“Our focus is on providing a solution that exceeds all governance requirements set by the Regulator, in order to give peace of mind to employers that the scheme will be maintained effectively and within a highly competitive and transparent fee structure. Unlike most other DB Master Trust solutions, our service is segregated to avoid cross subsidy between participants and employers are able to leave at any time without penalty.
“The Premier Retirement Saver, our DC solution, has been developed to raise the bar on service levels and deliver a range of flexible options to members, whilst freeing employers from the increasingly onerous responsibilities of running a DC pension arrangement. As standard, the service includes an online self-service portal where members can model their benefits, select investments and switch funds – as well as reviewing a range of flexible retirement options that satisfy the government’s latest proposals, including the changes put forward in the 2014 Budget.
“Members will benefit from the range of investment choices offered by the fund manager Alliance Bernstein, in addition to the retirement information and advice from our regulated portal – Gateway2Retirement – when they are considering retiring from the scheme. These services are provided with the comfort for employers that independent trustee firm PAN Governance are in place to manage the trust effectively in accordance with all regulatory guidelines. This includes meeting the good practice standards set out in the Regulator’s Master Trust Assurance Framework.”
The third master trust – Premier Life Trust – is Premier’s death in service solution.  As well as providing full record keeping and claims management, every participating employer will be assured the best terms as the master trust is not tied to one single insurer.
Gutteridge says: “Offering this master trust alongside the DB and DC solutions provides employers with a 'one stop shop' suite of solutions to select from, which will provide economies of scale, take away the operational strain and cater for all sizes of employer, however diverse their workforce.”

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