Consolidation of trust-based workplace pensions
Find out what you need to know about consolidating your scheme, and how we can help you save time and money, and manage risk.
Why consolidate with People’s Pension?
People’s Pension is the UK’s largest master trust. We are a flexible and portable workplace pension scheme built for everyone.
We’re authorised and regulated by The Pensions Regulator and overseen by an independent Trustee. This means our members can feel reassured that we are well governed and focused on their needs. Because we have no shareholders, our profits are reinvested to help your people save for the future.
- Trusted by over 7m members and more than 100,000 employers*
- Managing over £39bn of members’ money*
- A dedicated consolidation team to support you at every step
- Helping members save more by giving back almost £3m in reduced charges every month*
- Time and cost savings for your business
*All figures correct as of December 2025
Our top tips for successful trust-based pension consolidation
Here are some simple steps to help keep things on track and make the process smoother for everyone.
Increasing regulations and scrutiny
The government and The Pensions Regulator want to ensure workplace pensions deliver value for money and improve outcomes for members. This has led to tighter regulations and greater scrutiny for trust-based schemes.
Requirements include:
- Value for members assessments for some smaller schemes
- Broader investments in illiquid assets
- Climate-related governance and reporting requirements for investments
- Greater emphasis on data quality
- More transparency in chair’s statements
- An expectation to support members from work through to retirement
Keeping up with ongoing regulatory changes, including increased encouragement for members to access pensions guidance, pensions dashboards, changes to the normal minimum pension age, simpler annual benefit statements, transfers conditions to prevent scams, and updates to the charge cap.
If you run your own in-house scheme, meeting these requirements and supporting trustees can mean more time, cost and resource. It can also increase risk and trustee liability. You may need to consider whether you have the scale, governance and support needed to continue running your scheme effectively.
If you’re thinking about consolidating
If you want to explore your options, we’re here to help. Email us at RRM@peoplespartnership.co.uk and we'll get back to you.
