L&G launches mastertrust forum

Legal and General (L&G) Workplace Savings has launched the Mastertrust Employer Group (MEG), a forum for trust-based pension schemes that use mastertrusts.

It held its inaugural meeting on 10 January, which was attended by mastertrust members, including Arcadia Group, Debenhams, Ladbrokes, Marks and Spencer, and Mothercare.

The principle aims of the MEG are:

  • To improve guidance visibility and accountability.
  • To shape future scheme developments.
  • To act as a unified voice for mastertrust members.

Paul McBride, director at Legal and General Trustees, said: “This mastertrust forum is unique and forward-looking, and we are excited and proud to be part of it.

“We already have a strong list of participants, which includes a number of large employers that were unable to attend our first meeting.

“However, we are open to expansion and would welcome more members.

“Our [employer] clients are pension professionals and they know their people better than we can hope to. Not only can we learn a great deal from them, but we firmly believe that members have much to gain from such close and open collaboration.”