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BlackRock adds master trust to range of DC pensions solutions

Friday, 15 June 2012
BlackRock adds master trust to range of DC pensions solutionsBlackRock says it has launched a new BlackRock Master Trust to complement its existing trust and contract-based DC solutions. It will bundle scheme administration, an investment platform, member engagement tools and trustee services. It will also enable employers to provide DC 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, claims the firm.http://www.ftseglobalmarkets.com/

BlackRock says it has launched a new BlackRock Master Trust to complement its existing trust and contract-based DC solutions. It will bundle scheme administration, an investment platform, member engagement tools and trustee services. It will also enable employers to provide DC 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, claims the firm.

Employers using the BlackRock Master Trust will be able to offer a preselected range of funds including a default option. Alternatively, employers can work with their investment consultant to customise the investment funds available using the full range of funds on BlackRock’s DC investment platform. The service will also provide a range of solutions to help companies meet the communications challenges of auto-enrolment. Employees will be able to use Target Plan, an integrated modelling tool, which allows clients to assess saving requirements and manage changes to retirement age, contribution level or investment choice.

Paul Bucksey, BlackRock’s head of DC business development and client relations,says that: BlackRock Master Trust ... will offer employers the cost effective and flexible solutions needed to address the challenges of auto-enrolment and the long term savings needs of their employees using the governance structure that best suits them. We have seen significant interest in Master Trust, both from existing clients as well as the wider market, and expect demand to accelerate as we move into the auto-enrolment era.”

Following an extensive selection process, BlackRock has appointed Independent Trustee Services (ITS) as the corporate trustee. “ITS has a strong approach to scheme governance and excellent relationships with pension schemes, employers and consultants which made them the ideal choice for our new product. ITS is a firm with an excellent reputation for delivering professional trustee services across a wide range of pension schemes,” says Steve Rumbles, BlackRock’s head of UK Defined Contribution Pensions, said:

 

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