Standard Life Master Trust Secures £10 billion In Assets Under Administration

The Standard Life Master Trust has cemented its growing reputation as one of the most dynamic and progressive workplace pension solutions in the UK with assets under administration breaking through the £10 billion mark in June 2024.

Reflecting the strategic focus and investment made by Phoenix Group in Standard Life’s Workplace and Master Trust proposition, assets under administration have doubled in the three years since Q1 2021, bolstered by close to 30 new scheme wins and investment growth.

In 2023, Master Trust activity made a significant contribution to the growth underpinning the Standard Life workplace business which recorded net fund flows of c.£4.5bn, nearly double the prior year (FY22: £2.4 billion). This included the transfer of c.£2bn of new scheme assets and one of the largest workplace schemes tendered in the UK market in recent years – a demonstration of the attractiveness of the Standard Life Master Trust to employers and trustees.

Commenting, Head of Master Trust at Standard Life, Donna Walsh said: “We have seen phenomenal growth in our Master Trust especially in the last three years where the investment in our proposition, service and people has helped accelerate our marketplace presence and capability. We’ve been winning some of the biggest schemes in the market, while also retaining and growing our existing client base. This has been combined with a focus on accelerating digital access for members and providing digital tools to help them achieve greater financial wellbeing on the journey to and through retirement.

“Employer and adviser engagement and insights are key to developing and growing our Master Trust. Building on our existing client engagement with the Trustees, including our employer events, we’ll be visiting many more clients and advisers over the summer with Helen Dean, CBE, our new Chair of the Master Trust Board to hear more about their requirements and help our Master Trust continue to evolve to meet members’ savings needs.”


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