On the go: With just weeks to go before the final deadline of March 31, SEI is the latest trust to reveal that it has applied for authorisation of its SEI Master Trust.
The SEI Master Trust was one of the first master trusts launched in the UK more than 11 years ago.
Commenting on this development, Allan Course, chair of the trustees, said: “Having taken plenty of time to check – and then double check – that all of our Ts were crossed and our Is were dotted, we were very pleased to make our submission for authorisation well ahead of the deadline.”
Master trust authorisation was introduced to raise standards for the 10m members saving into them.
Among the frontrunners who have already applied for authorisation are Legal & General and Evolve Pensions, which manages Crystal Trust and Blue Sky. Aon is expected to apply shortly. Willis Towers Watson’s LifeSight was the first master trust to be authorised by the Pensions Regulator.
