Mercer, a global consulting leader in advancing health, wealth and careers, and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), has announced that the UK Mercer Master Trust has obtained the master trust assurance framework accreditation. The voluntary master trust assurance framework was developed by the Institute of Chartered Accountants in England and Wales (ICAEW) in partnership with The Pensions Regulator (TPR), and is designed to help trustees assess whether their scheme meets equivalent standards of governance and administration to those set out in the TPR defined contribution (DC) code.
The master trust assurance enables the Trustees of the Mercer Master Trust to demonstrate that the scheme has been subject to an independent review of the description, design and effective operation of its governance and administration practices. Master trust assurance also allows employers to trust that their independently reviewed scheme helps them comply with their auto-enrolment duties.
Roger Breeden, Head of Workplace Savings and Investments at Mercer, said: "The Mercer Master Trust is the only defined contribution Master Trust that offers a genuine choice of administrator. It delivers the best of the UK market in an efficient model designed to improve engagement and wellbeing through including Mercer Harmonise and we are very proud that it has been recognised through master trust assurance. Since 2011, Mercer has provided a comprehensive workplace pension and savings solution. Strong governance is not only key to our success, but is also integral in delivering the best outcomes for members."
"I am pleased that the Mercer’s Master Trust has been independently assured," said Alan Pickering CBE, Chair of Mercer Master Trust Trustees. "The Trustees of the Mercer Master Trust are responsible for the identification of control objectives relating to governance and administration, and the implementation of the control procedures. We will continue to provide good governance to ensure that we offer a market leading solution for companies looking to provide a pension arrangement with the best results for members."
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About Mercer
Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and careers of their most vital asset – their people. Mercer’s more than 20,000 employees are based in 43 countries and the firm operates in over 140 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy and people. With annual revenue of $13 billion and 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Marsh, a leader in insurance broking and risk management; Guy Carpenter, a leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a leader in management consulting. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer. In the UK, Mercer Limited is authorised and regulated by the Financial Conduct Authority.
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