Preparing your application
You can apply for authorisation for a new master trust at any time on or after 1 October 2018. Your application for authorisation must be accompanied by a fee of £23,000. Guidance on how to pay the fee and submit your application will be available from 1 October.
You can submit your application via the master trust portal. To gain access to the portal, you should email MasterTrustAuthorisation@tpr.gov.uk. You should confirm the proposed scheme name and email address for the primary scheme contact.
Before submitting your application, we’ll invite you to attend a pre-application meeting. During this meeting, you can discuss your proposal and how you will meet the authorisation criteria.
We’ll make a decision on your application within six months of receiving it. For further information, read the master trust decision-making procedure (PDF, 59kb, 7 pages).
Supervision and enforcement
As a new master trust, you can expect to receive a high level of supervision as you will not have an operational track record. Through our supervisory approach, you will be required to demonstrate that you continue to meet the authorisation criteria. For further information, you can refer to our draft Master Trust Supervision and Enforcement Policy.