The Pensions Management Institute (PMI) announced it has appointed Scottish Widows as its “insight partner” to share its expertise on Master Trusts within the industry with PMI members.

“PMI’s Insight Partnerships are developed with organisations considered to be experts in the industry in a range of areas to drive innovation,” said the PMI.

“This partnership will involve Scottish Widows hosting webinars, interviews, and panel discussions for PMI members on key master trust topics within the industry.

“PMI’s Insight Partnerships support innovation on current, pertinent issues and add value through the delivery of specialist knowledge.

“Master trusts are increasingly viewed as an efficient way to outsource scheme management while retaining strong trust-based governance.

“As more employers begin to view master trusts as a potential solution, the partnership between the PMI and Scottish Widows aims to collaborate to bring the latest insight on Master Trusts to PMI members.”

Pensions Management Institute CEO Gareth Tancred said: “Master trusts are becoming more commonplace in the pensions industry, as it continues to modernise.

“The partnership with Scottish Widows will provide our members with unparalleled understanding from leading experts in master trusts.

“Scottish Widows is an ideal choice to be our Insight Partner on this topic. We look forward to working with Scottish Widows as our partner and to champion leadership in the pensions industry.”

Sharon Bellingham, Master Trust Lead at Scottish Widows, said: “We’re delighted to be the PMI’s Master Trust Insight Partner and are very much looking forward to working together to deliver a rich programme of relevant thought leadership and content for PMI members.

“The modern master trust is no longer a simple DC vehicle – it can provide flexible and sophisticated solutions for individuals, employers, Trustees and is at the vanguard of a busy legal, regulatory, and mandatory change agenda, all within a supervisory regime that demands high standards of governance and risk management.

“Being part of the Lloyds Banking Group also means that we are in the unique position of being able to draw on and share meaningful consumer insight, which is never more important than at a time when household budgets are under pressure and financial uncertainty is a concern for many.”