Master Trust
The Master Trust is available in connection with group life schemes. Instead of registering the scheme direct with HMRC, which involves appointing a scheme administrator and obtaining a Pension Scheme Tax Reference (PSTR), the client can choose to participate in the Master Trust. The trustees are Pitmans Trustees Limited, who have a wealth of experience in this field.
There are several benefits
- No extra paperwork: applicants simply have to confirm in the declaration on the usual group life application form that they wish to participate
- Pitmans Trustees Limited will ensure the Trust is adapted if changes in legislation or HMRC practice require it
- Registered schemes can go on-risk instantly – no waiting for a PSTR (the Master Trust’s own PSTR, 00771706RV, applies to all participating schemes)
- It’s FREE!
While we see it as being particularly attractive to SMEs, the Master Trust is available to all sizes of group life scheme.
As with all group life schemes we strongly recommend members complete an 'expression of wish' form. More information about these here.