Publisher Johnston Press has become the first to join Zurich’s newly launched master trust scheme, the insurer announced today.

The scheme will be used by Johnston Press for auto-enrolment, with Zurich also providing administrative services to determine correct employer contribution levels and eligibility for the scheme.

“This is an integrated proposition that meets both their current and future needs,” said Zurich's head of corporate life and pensions for the UK Simon Foster.

Johnston Press chief financial officer Grant Murray said the company had been impressed by the insurers’ “tailored approach and commitment to member communication and engagement.”

It was advised by consultants Punter Southall. Zurich launched its master trust last month – aiming it at larger employers. Members have access to Zurich’s full range of insured funds, including blended and white-labelled funds. The fund range, including the default fund, is specified taking into account the needs of the employer and guidance, where provided, from the employer’s adviser. Zurich has also appointed independent trustees Pitmans to oversee the scheme.

It joins an increasingly crowded market that includes other big insurers such as Standard Life and Legal & General, as well as BlackRock, BlueSky, Goddard Perry, Now: Pensions, Pensions Umbrella Trust, Supertrust UK, Xafinity Consulting, and Nest Corporation.

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