BlackRock has revamped its solution for trust and contract-based defined contribution (DC) pension schemes.
The new BlackRock Master Trust will complement the existing contract-based DC solution capability. It will bundle scheme administration, an investment platform, member engagement tools and trustee services.
BlackRock said this scheme would enable employers to “provide defined contributions benefits under the more stringent governance model of a trust without the associated long-term overheads of having to appoint trustees or meet the regulatory and audit costs usually associated with operating trust-based schemes”.
While employers will be able to offer a pre-selected range of funds, including a default option, they can customise the investment funds available using the full range of on the platform.
BlackRock has appointed Independent Trustee Services as the corporate trustee to the BlackRock Master Trust.
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