Master Trust.
A pension scheme for many.
A Master Trust is a defined contribution (DC) pension scheme set up under Trust. Unlike a traditional pension scheme, multiple employers all coexist in a group arrangement under one Trust deed, or Master Trust.
Our providers of Master Trust solutions include:
3 benefits of a Master Trust pension scheme.
One larger Trust ensures you are compliant with pension regulation in a cost efficient manner due to the economies of scale that come with a large Trust.
Within a Master Trust you retain full control over the contribution and benefit levels for your members.
The Trust removes the burden of trusteeship from you which will greatly simplify the running of your company pension scheme.
How a Master Trust works.
7 reasons your employees will thank you for their pension.
On average, people are living longer so a bigger pension fund will go further.
The €253.30 weekly pension fund may need to be boosted in retirement to maintain the lifestyle they are used to during their working career.
Tax contributions are eligible to tax relief at the rate of tax they pay. (You are also eligible for Corporation Tax relief.)
Investments can grow tax free within a pension, so they have the potential to grow faster than in other types of savings that are subject to tax.
It's never too late for employees in their 40’s or 50’s to start a pension. Contributing to a pension plan now ensures potential benefits, including the option to receive a lump sum and enjoy tax relief upon retirement.
On retirement, part of their pension fund can be drawn down as a tax-free lump sum (subject to a lifetime limit of €200,000).
The money in their pension pot is theirs forever.
A good journey to retirement.
Join Fionán as he explores the transformed pension landscape in Ireland, emphasising the effectiveness of master trusts for group pension schemes.
Explore more Employee Retirement Solutions.
Personal Retirement Savings Accounts (PRSAs)
Currently, the only legal obligation on you is to offer your employees access to a Pension Solution. As Ireland's simplest pension option, PRSAs meet your legal requirements effortlessly. With recent legislative updates, PRSAs now offer enticing tax benefits and investment diversity, ideal for ambitious business owners and senior professionals planning their retirement journey.
Auto-enrolment
Due to launch at the start of 2025, auto-enrolment will ensure employees, not currently saving for retirement, are automatically enrolled in the Government Auto-Enrolment pension scheme thus encouraging long-term savings and retirement planning. Employees already participating in your Pension solution will be exempt from being included in it, once certain criteria are met.
Start your Master Trust journey for your employees.
If you would like to learn more about how Trust Matters can work with you to plan your employees' Master Trusts, contact us today.
