Case Studies

Transferring to Master Trust

23 May 2023

Approach/experience

The approach of IGG on any transfer to Master Trust is one of collaboration, simplicity and doing the “heavy lifting” to ensure the sponsor is able to focus on the day to day roles.

A bulk transfer of any DC Scheme is a complex project but the key activities at a high level are standard including the execution of the deed of adherence, sharing of information and data on the Scheme with the new Master Trust, certification by the Scheme actuary and finally signing the transfer agreement by all parties. All of these activities require all parties to work together with advisers and each other in a pragmatic manner.

Working with the Company and the DC Master Trust provider, selected by the Company, if that was the preferred route.

Establishing a Joint Working Group (“JWG”) to include key individuals from the Company, Trustee and advisers is key so the project progresses efficiently. Ensuring all members of the JWG have the necessary authority to make decisions is critical.

 

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