Aegon UK has announced that assets under management in its master trust have now topped £1bn.
This master trust was a key component of the BlackRock acquisition, and became the Aegon Master Trust (AMT) in July last year.
Aegon’s head of master trust Kate Smith says described this master trust as “the core of our workplace strategy”. She adds that she expects this trust double in size during 2019.
Through its workplace savings proposition, Aegon also offers own trust options, investment only and wider workplace savings solutions to trustees and corporate clients.
Smith says this master trust structure can deliver value for employers through centralising governance, trustee and regulatory function, while also driving member engagement.
She adds: “The Pension Regulator has raised the bar with its new regulations to improve master trust standards across the board and we strongly believe that this will lead to better member outcomes.”
Smith adds: “This milestone demonstrates how focused we are on growing our master trust business. Master trusts are fast becoming the preference of many employers moving away from single-employer trust-based pension schemes, and employers expect the same level of governance.
“The new rules give employers and members comfort that these standards will not only be maintained but strengthened.”