We are pleased to confirm that, after an extensive review, the Options Trustee has decided to transfer its employers and members to the Smart Pension Master Trust. All employers and members should have received a communication confirming all the details. You can access these here together with a helpful Frequently Asked Questions document. As we have now transferred all members and employer to Smart Pension please direct queries to member@smartpension.co.uk.
Options Workplace Pension Master Trust - Our trustee board
Our Workplace Pension Trust was established in October 2012 (branded as Options in 2019) with the primary objective of offering an Auto Enrolment solution to existing (and future) clients of Options.
Administration of the Scheme is performed by Options Corporate Pensions UK Limited, who are based in Milton Keynes and specialise in providing pension services and products to the UK market.
A new trustee board for the Options Workplace Pensions Trust consists of PI Consulting (Trustee Services) Ltd (Corporate Trustee and Chair of the Board), David Brown (individual independent trustee) and Chris Roberts (individual independent trustee). Together this brings years of experience with a strong diverse set of skills, covering investments, pensions law, corporate governance and communications.
Trustee's Report and Chair's Statement
By the end of October each year, the Chair of the Trustees will produce a report detailing how the scheme is performing. This report includes::
• Our opinion on whether you are getting good value
• How core financial transactions are processed
• Information relating to charges and transaction costs
Please click here for the latest copy of the Chair Statement.
Statement of Investment Principles
The Statement of Investment Principles is prepared by the trustees of the Options Workplace Pension Trust.
The statement details the principles which govern the decisions about investments that enable the trust to meet requirements of:
• the Pensions Act 1995, as amended by the Pensions Act 2004
• the Occupational Pension Schemes (Investment) Regulations 2005 as amended by the Occupational Pension Schemes (Investment) (Amendment) Regulations 2010 and the Occupational Pension Schemes (Charges and Governance) Regulations 2015
Please click here for the latest copy of the Statement of Investment Principles
Please click here for our latest Implementation Statement
The Taskforce for Climate Related Financial Disclosures (TCFD)
The Taskforce for Climate Related Financial Disclosures (TCFD) was set up in 2015 by the Financial Stability Board, and it provides a framework for reporting both the impact of organisations on the climate in the form of GHG emissions, and assessing potential climate change impacts on the organisation. TCFD reporting is a supranational trend, spreading through the jurisdictions of the G20.
From 1 October 2021 the Occupational Pension Schemes Regulations 2021 introduced new requirements relating to reporting in line with the TCFD recommendations, to improve the quality of governance and the level of action by trustees in identifying, assessing and managing climate risk.
The Trustees are pleased to provide their latest report which can be found here
Independent audit assurance (Master Trust Assurance Framework)
Developed by the Institute of Chartered Accountants in England and Wales in conjunction with The Pensions Regulator - Master Trust Assurance is a voluntary framework providing an independent review against an industry-wide quality standard. It enables trustees to evaluate the quality of their pension scheme and demonstrates compliance with control objectives.
As a Master Trust, the Options Workplace Pension Trust receives this independent review. Our Board is very pleased to present its report detailing the control procedures that are in place for the Options Workplace Pension Trust.
A copy of the report can be found here
Trustees Newsletters and Information Sheets
