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February 26, 2014updated 04 Apr 2017 2:28pm

Close Brothers Asset Management unveils new multi-employer master trust for SMEs

Close Brothers Asset Management (CBAM) has unveiled its new multi-employer master trust, YourWorkplacePension, to support SMEs approaching their auto enrolment staging dates.

By Verdict Staff

Close Brothers Asset Management (CBAM) has unveiled its new multi-employer master trust, YourWorkplacePension, to support SMEs approaching their auto enrolment staging dates.

The new multi-employer master trust will allow CBAM to manage all the complexities of auto enrolment on behalf of the employer including: assessing employees and segmenting them into the relevant categories, handling all electronic communications, managing and recording opt-outs and opt-ins, processing ongoing record keeping as well as ensuring all regulatory requirements are met.

Charles Gillespie, head of corporate advice at CBAM, said: "Our solution allows multiple employers to participate in a single arrangement that includes a professional and independent trustee. As the requirement for governance increases, trust-based pension schemes can offer an attractive solution for SMEs"

Paul Chapple, director of institutional investment at CBAM, said: "The master trust uses five multi-asset funds where asset allocations are based on forward-looking analysis of economic and market conditions which aim to reduce investment volatility experienced by members while maximizing value."

"We aim to offer members a smoother journey as they save and particularly in the approach towards retirement, where we seek to better manage the downside risks whilst maintaining the ability to grow assets," added Chapple.

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