UPDATED: TPR confirms Aon MasterTrust authorisation

The Pensions Regulator has confirmed that the Aon MasterTrust has received master trust authorisation, following some confusion earlier today.

TPR has confirmed to Pensions Age that Aon has recieved authorisation but it has not yet updated its list of authorised master trusts, which is why Aon is not yet listed. The Pensions Regulator updates its list every Tuesday morning.

Commenting on the authorisation, Aon EMEA DC solutions leader, Tony Pugh, said: “We believe the authorisation process has brought real and positive rigour to the defined contribution market. In applying for authorisation, Aon has been focused on exceeding all its requirements.

“Authorisation enables us to move ahead and to continue to bring effective innovation to our DC solutions, enabling members to better plan for their retirement – and not just from pensions savings but also by aggregating the full range of their finances alongside their pension.”

It follows news earlier today that the Railways Pension Scheme’s DC section has also received authorisation. Along with Aon, this brings the total number of schemes authorised to 13, with 26 still waiting for a decision.

Aon and the Railways Pension Scheme's DC section join the BlueSky Pension Scheme, The Crystal Trust, Fidelity, Legal & General WorkSave Mastertrust, Legal & General WorkSave Mastertrust (RAS), LifeSight, Mercer Master Trust, The Pensions Trust (TPT Retirement Solutions), Standard Life DC Master Trust, Stanplan A and the Universities Superannuation Scheme.

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