Cheviot, a multi-employer master trust with defined benefit (DB) and defined contribution (DC) pension funds, is launching a refreshed operational and investment model.
Developed in partnership with Spence & Partners and Van Lanschot Kempen, the new model is designed to meet the evolving demands of the UK’s pension landscape.
According to the master trust, the collaboration underscores Cheviot’s commitment to tackling an increasing regulatory burden, managing costs, and delivering streamlined solutions that align with government priorities for consolidation and professional governance.
Cheviot has appointed Spence & Partners as the new administrator across all of its pension funds, following the 2024 appointment of Van Lanschot Kempen as fiduciary manager. Cheviot said that both partners will enable it to deliver a “sophisticated, scalable solution to schemes of all sizes”.
Cheviot’s new model responds to increasing complexity by offering direct access to real-time data and funding updates via Spence’s Mantle technology, improved information flow and reporting, and a reduced management burden for trustees and sponsors.
It also streamlines pathways to buy-in, buyout, or continued scheme management, and provides enhanced governance options, whether for full service or transitional support, the master trust stated.
The new proposition aims to support clients seeking to consolidate under a flexible full-service model, including options to maintain continuity with an existing trustee or adviser, while enhancing governance, navigating a path to buyout without in-house resource strain, or transitioning from underperforming administration providers, it added.
Elspeth McKinnon, chief executive officer and co-opted director of Cheviot Trustees, said: “Our new model gives schemes access to an efficient and specialist pensions arrangement that provides an end-to-end solution for all aspects of pension delivery.”
She explained that master trust’s approach “reduces risk and costs and takes governance off the table”, whilst delivering a scheme’s long-term objectives.
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Pamela is IPE's UK correspondent.
Before joining IPE in May 2023, she spent five years writing about the insurance industry.
During her career so far she won awards for Most Promising Newcomer in 2020 and Best Investigative Article in 2022 from the British Insurance Brokers Association, and was also highly commended at the WTW Media Awards for Insurance Features Journalist of The Year.View full Profile
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