Lighthouse Group gets approval for its sponsored master trust

National financial advisory company Lighthouse Group announced the approval and listing of its sponsored master trust by the Pensions Regulator on Thursday.

The AIM-traded firm said the Corporate Pensions Trust, launched in November 2013, was a multi-employer pensions ‘master trust’, utilising age-based target date funds managed by Alliancebernstein, and had three corporate trustees.

It said the Lighthouse Pensions Trust, which is an employer category within CPT, was unique in being the only fully-advised workplace pensions solution for employers needing to comply with their auto-enrolment legal obligations.

It said the LPT provided access to a network of locally-based specialists who would guide employers through the auto-enrolment process, from initial data gathering and option selection to establishing the scheme and managing changes on an ongoing basis.

There was also a category under the Trust Pensions brand for employers who wished to comply with their auto-enrolment obligations, but who did not require separate advice on the process.

The Trust obtained accreditation in December 2016 under the ‘master trust’ assurance framework, which confirmed that the trust had the “robust internal controls” and governance required by the rules of the ICAEW AAF 02/07, Lighthouse claimed.

TPR confirmed its approval and formal recognition of CPT in April 2017 and was listing CPT on its website from Thursday.

“The listing of our master trust solution by the Pensions Regulator is a key milestone for the group,” said Lighthouse chief executive Malcolm Streatfield.

“It means that employers who have yet to stage auto-enrolment compliant workplace pension schemes in 2017 or 2018, as well as those who have staged since 2012, can be confident that, in choosing LPT as their auto-enrolment solution, they have selected a provider that offers value for money, the highest standards of corporate governance, focused on good member outcomes, and is financially secure.

“The Lighthouse Pensions Trust, together with the group's allied offering the Lighthouse Life Trust, offers a one-stop solution for employers seeking to provide workplace pensions, all with local support as and when needed.”