The University of Oxford Staff Pension Scheme (OSPS) has become the latest defined contribution scheme to be granted master trust authorisation by The Pensions Regulator (TPR).

This latest approval brings the total number of schemes authorised by TPR up to 34, following the authorisations of BCF Pension Trust and The Carey Workplace Pension Trust last week (1 October).

The OSPS is the auto-enrolment scheme for support staff at the University of Oxford, participating colleges and other related employers.

Following its authorisation, there are now around five master trusts that are awaiting approval from TPR, according to the regulator’s latest master trust statistics publication.

The number of master trusts to apply for authorisation currently stands at 39, meaning five are still waiting for approval.

Despite applications closing for existing master trusts, new master trusts can apply to enter the market at any time. They must provide evidence outlining how a scheme will meet the standards in five key areas.

However, new schemes will be more intensely supervised than existing schemes because they will not have an operational track record.

Aegon Master Trust, Aspire Savings Trust, Atlas Master Trust, Aon, Autoenrolment.co.uk Master Trust, Aviva Master Trust, The Baptist Pension Scheme, BCF Pension Trust, the BlueSky Pension Scheme, The Carey Workplace Pension Trust, The Cheviot Pension, Creative Pension Trust, The Crystal Trust, Ensign Retirement Plan, Fidelity, Legal & General WorkSave Mastertrust, Legal & General WorkSave Mastertrust (RAS), The Lewis Workplace Pension Trust, LifeSight, Mercer Master Trust, National Pension Trust, Now Pensions Trust, The ITB Pension Funds Nest, The Pensions Trust (TPT Retirement Solutions), The People’s Pension, the Railways Pension Scheme's DC, Scottish Widows Master Trust, The SEI Master Trust, Standard Life DC Master Trust, Stanplan A, the Universities Superannuation Scheme and Workers Pension Trust as the authorised master trusts.

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