Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, how many Master Trust products have been independently reviewed against the Master Trust Assurance framework.

DWP does not hold the information requested as the Master Trust Assurance Framework is voluntary and overseen by the Institute of Chartered Accountants in England and Wales. The data which most closely matches that requested can be found on the Pension Regulator’s website, at the following address:

http://www.thepensionsregulator.gov.uk/doc-library/dc-trust-presentation-of-scheme-return-data-2017.aspx

The Pension Regulator publishes annual statistics on occupational defined contribution trust-based pension schemes and memberships. The latest data shows that on 31^st December 2016, 13 Master Trusts were on the published list of schemes that have achieved Master Trust assurance. This figure does not include any Master Trusts that may have achieved Master Trust assurance but do not appear on the list, for example because they have chosen not to or are in the process of applying.

As mentioned above, the Master Trust Assurance Framework accreditation process is voluntary. A scheme wishing to undertake this accreditation will engage a Reporting Accountant to carry out the work. There are no requirements for schemes to inform the Regulator that they are undertaking an assurance exercise or to provide the report, unless they wish to apply to join the Regulator’s published list.