HSBC Master Trust has become the first new master trust to be authorised by The Pensions Regulator which has so far focused on authorising existing schemes.

The Pensions Regulator says 16 million pension pots are now ‘better protected’ after all the existing schemes have been authorised and moved to the new rules.

The Pensions Regulator (TPR) has approved the Carey Workplace Pension Trust as an approved Master Trust for the continuing acceptance of auto-enrolment contributions from the UK market.

Two leading pensions firms have gained Master Trust authorisation from The Pensions Regulator (TPR).