XPS Pensions Group is to sell its Master Trust pensions business XPS Pensions (Nexus) Limited to major Master Trust firm SEI for up to £42.5m.

Multi-employer master trust pension fund National Pension Trust (NPT) is to move its default investment to an ESG guided strategy this month.

Punter Southall Aspire, the Financial Planning and retirement savings business, is exiting the Master Trust pensions market to concentrate on Financial Planning.

The Financial Conduct Authority’s pension scheme has apologised after being hit with a £2,000 fine from The Pensions Regulator over governance shortcomings.