Citrus DB master trust self-certificate is now available
We are pleased to announce that our own self-certificate is now available on the Pension and Lifetime Saving Association (PLSA) website.
The self-certification for Defined Benefit (DB) master trusts was an initiative launched by the PLSA at the tail end of 2021. It allows employers and trustees to access key information on participating DB master trusts, such as structure, governance, operations and the process for joining and leaving a master trust. They can also compare other master trust providers and determine the best consolidation option for their pension scheme.
Selecting the right provider when transferring to a DB master trust is quite beneficial to members of smaller DB schemes (under £150m) as it provides the necessary security and assurance that their pension will be paid during their retirement. The benefits to employers and trustees are also significant, especially the cost savings made in administration and economies of scale.
As businesses still try to navigate through the after-effects of the pandemic and the current ongoing economic situation, we understand that there will be a greater interest in consolidation to manage costs and governance requirements. Many businesses will now be thinking of the longer term and seeking funding improvements, which can be achieved through accessing the wider, more sophisticated range of investments available through a DB master trust.
For more information on how a DB master trust, like Citrus, could help small DB schemes, read our article on the five reasons how they can help such schemes.
Alternatively, you can contact Lindsay Davies, Citrus Trustee Secretary & Pensions Manager, to discuss how Citrus can help your scheme.