Master Trusts: Market trends and insights
This content is AI generated, click here to find out more about Transpose™.
For terms of use click here.

A market in motion, stronger propositions, further to go
In an increasingly competitive market, our report examines the key areas of focus for master trusts outside of investments. For employers and trustees alike, who are reviewing or looking to make the move to a master trust, we explore other important areas that have both an impact on the DC savers’ experience and ultimate outcomes.
Whilst the focus is on larger multi-employer master trusts, the report covers pension providers managing more than £700 billion of workplace pension assets across all arrangements, representing an estimated 85–90% of the total market.
This broader report follows our fifth annual review of default investment strategies, published in February this year. As with last year, it examines the main non-investment priorities for master trusts in a market that remains fast-moving, highly competitive and increasingly shaped by regulation.
Master Trusts Unpacked: A market in motion, stronger propositions, further to go
Read nowWhat’s inside?
- Market development
- How post-retirement offerings are evolving
- Improving service standards
- Member engagement
- Financial confidence and understanding
Subscribe to our thinking
Get relevant insights, leading perspectives and event invitations delivered right to your inbox.
Get started to select your preferences.
Read the previous edition
In the 2025 edition, we took a look at service performance over the previous two years, with some big gulfs between the best and worst master trusts.



