The New Ireland Master Trust
A good pension plan can form an important part of any remuneration package to attract and retain employees. However, with so much change in the area of pensions, navigating through pensions options can be challenging for employers.
While the introduction of auto-enrolment will place significant responsibility on employers, this can be an opportunity to shape a flexible pension plan that is not only compliant, but also truly beneficial for employees while delivering efficiencies for you.
Going beyond meeting auto-enrolment and IORP II requirements, the New Ireland Master Trust has transformed the way pension schemes are administered by delivering service enhancements and technological solutions that meet and exceed our customers' changing requirements.
Automated processes, real time data and transactional capability, and self service capability ensure significantly less time is spent on plan administration. Members gain a true understanding of this valuable benefit and are empowered to take more control of their plan.
- A market leading employer and member experience through our MyPension365 digital pensions platform
- Leading edge operational efficiency for employers through MyPension365
- An award winning communications strategy that empowers members throughout their retirement planning journey
- A world class investment solution including our award winning default investment strategy Passive IRIS
- Excellence in governance
- Cost certainty and competitive pricing options
- Reduced risk
- Enables quick adoption of best practice, enabling employers to future proof against further regulatory changes.
What is a Master Trust?
A (DC) Master Trust is a defined contribution pension scheme or plan designed for multiple non-associated employers under one trust arrangement. Employers have peace of mind knowing that all trust based regulatory and governance responsibilities are looked after within the Master Trust while they retain the flexibility to decide the benefit structure and eligibility rules of the plan.
Each employer benefits from being a part of one trust, but each employer's plan is administered entirely separately and reflects their plan preferences.
- The employer decides on questions like the level of contributions.
- The trustee board makes the final key decisions around investment, governance, administration and communications.
The New Ireland Master Trust
The New Ireland Master Trust is governed by one trustee, Dawson Master Trustee DAC which was established for the sole purpose of providing a trustee service to the New Ireland Master Trust.
New Ireland is the Registered Administrator of the Master Trust. New Ireland Assurance Company was established in 1918 and is one of the largest life and pensions providers in Ireland. We have been providing administration services to Group Defined Contribution plans since 1990.
Established in March 2020, careful consideration was given to the expected future regulatory environment when the New Ireland Master Trust was being developed.
You can view the New Ireland Master Trust brochure, flyer and Key Features document below.
MyPension365
At New Ireland, we understand that a one-size-fits-all approach doesn't work when it comes to your pension plan. The New Ireland Master Trust and our MyPension365 digital platform empowers employers and advisors to design tailored pension plans that meet the specific needs of employees.
With MyPension365, you gain control and flexibility. You can customize plans to suit different employee demographics, ensuring that everyone from the new hire to the soon to be retiree has a pension plan that works for them.
Members can view up to date information to gain a true understanding of their plan throughout their retirement planning journey and can take relevant actions online as needed.
Watch our MyPension365 employer video
To find out more about the MyPension365 digital pensions platform and to view our guides and overview videos, please visit our MyPension365 hub.
Investment solutions
The New Ireland Preferred Suite of Funds offers members a choice of management style (both active and passive) across a range of risk appetites coupled with a diversified choice of independent fund managers.
- A choice of 13 funds
- Flexibility to mix and match the default fund Passive IRIS with all other funds in the suite
- Strong investment performance record underpinned by proactive manager selection and replacement
- ESG (Environmental, Social, Governance) is core to the offering
To find out more about our investment proposition, including Passive IRIS - our award winning, passively managed target date fund core investment strategy, please visit our Master Trust Investment hub.
Warning: The value of your investment may go down as well as up.
Warning: If you invest in these funds you may lose some or all of the money you invest.
Warning: These funds may be affected by changes in currency exchange rates.
Find out more
See the New Ireland Master Trust brochure for more information.
Contact us
To find out more about the New Ireland Master Trust, please contact Neville Maxwell, Group Pensions Sales Manager at neville.maxwell@newireland.ie or your New Ireland Account Manager.
Dawson Master Trustee DAC is a subsidiary of Bank of Ireland Life Holdings Ltd. and was established for the sole purpose of providing a trustee service to New Ireland Master Trust. Dawson Master Trustee DAC is authorised by the Central Bank of Ireland to undertake Trust Service Provider business under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010.