Legal & General Group (L&G) has appointed Pitmans Trustees as independent trustee of its defined contribution (DC) master trust, Professional Pensions reports. Pitmans will be responsible for seven master trust arrangements, four DC master trusts and three group life master trusts.
Retailer Marks & Spencer will join the master trust arrangement in November 2012 and two further schemes worth £30 million will be joining in November 2011. Pitmans has also recently been hired to serve as independent trustee for Standard Life’s master trust.
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