Our implementation guide aims to address areas of uncertainty around the consolidation process to help trustees by outlining their key responsibilities when considering a switch to a master trust. We also outline a five-step process for each key stage of implementation:

1. Strategy: Review of scheme, benefits complexities, legal advice
2. Selection: Internal research, provider tendering, shortlisting, recommendation
3. Implementation: Data cleaning, comms and consultation, legal documentation, asset transfer
4. Wind-up: Preparation, TPR notification, resolve outstanding liabilities, finalisation
5. Business as usual: Draft governance committee terms of reference, set up committee, BAU

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