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Assurance reports on pension Master Trusts

Master Trusts are designed by pension providers to manage the pension assets of auto-enrolled employees and can accommodate the pension assets of many businesses.

Many larger companies already have pension schemes, but smaller businesses must look for a suitable scheme, which can be time consuming and complex. This is where Master Trust assurance comes in and ICAEW has provided guidance on how such engagements can be undertaken.

Following a consultation in October 2016, ICAEW has updated its guidance on Master Trusts, TECH 12/16AAF, (a supplement to AAF 02/07) to help pension trustees demonstrate good governance standards.

The new changes bring our voluntary assurance framework on Master Trusts up-to-date with current legislation and codes of practice issued by The Pensions Regulator, and offers guidance for practitioners. 

The updated technical release and consultation responses can be downloaded in full: 

We published the consultation document to assist in the development of good practice standards of governance by trustees of occupational defined contribution (DC) Master Trusts (referred to as Master Trusts throughout this supplement). This document was produced in association with the Pensions Regulator (the Regulator).

For more information please contact the Audit and Assurance Faculty.


Please note that guidance document TECH 07/14 AAF Assurance reporting on master trusts has now been superseded by TECH12/16AAF.

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