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About the Scheme > Master Trust Authorisation

Master Trust Authorisation

What is Master trust Authorisation?
Master trust authorisation is overseen by The Pensions Regulator. It will help ensure that master trust pension schemes (like BCF) continue to run in the best interests of their members. To become authorised, master trusts needed to show that their scheme met the 5 criteria laid out in legislation:
  • demonstrating the people running their scheme were fit and proper
  • the master trust was financially sustainable
  • the funder of the scheme could support it or if, like BCF, there was no funder that the scheme maintained suitable financial reserves.
  • the master trust had adequate systems and processes in place
  • a continuity strategy had been prepared.

After hundreds of hours of work and a huge amount of supporting documentation, BCF was granted master trust authorisation from The Pensions Regulator in October 2019.

The Trustee firmly believes that this will only help to ensure that all master trusts are properly run and well governed.
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