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Information for Independent Financial Advisers

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The SEI Master Trust is an Occupational Money Purchase Pension Scheme. It is registered under Part IV of the Finance Act 2004 and the Pension Scheme Tax Reference Number (PSTR) is 00689001RG. It is regulated by The Pensions Regulator (not FCA).

Please note that it is Trustee policy not to complete any additional questionnaires. All information required to perform an assessment of the member’s pension information is included within the member’s pack. The SEI Trustee has agreed that this enclosed information is sufficient for you to provide advice to your client. As a result, no further information will be provided on subsequent requests.

The member will be in receipt of their annual benefit statement (Annual Update), containing projections to their Target Retirement Age. Please refer to this document for any projections. Please note that members of the SEI Master Trust can use the Pension Planner on their online account for up-to-date projections using information on the different funds and assumption rates which are enclosed.

Investment funds and charges

The funds have been specifically designed for the SEI Master Trust. As such, these do not have any SEDOL codes. The Scheme’s funds operate on a single swinging price basis, i.e. do not operate on a bid/offer spread basis.

Each investment fund has an Annual Management Charge (AMC) factored into the Unit Price and the Total Expense Ratios (TERs). Details of TERs are available in our investment guides and individual fund factsheets, which can be accessed in the documents library. If you can’t find your employer’s details there, please check the member guide on your online account.

Members are able to switch the funds they are invested in, free of charge, at any time during any 12 month rolling period. There is no maximum number of funds that the member is able to hold at one time, so long as the maximum % allocation imposed on certain funds is not exceeded. The Trustee reserves the right to charge members for any switches in addition to this.

Death benefits

In the event of death, the value of the member’s pension account will be paid out as a lump sum or provided as a flexible income through the SEI Master Trust.

Some active members may also be entitled to death in service benefits. We do not collate data about life assurance benefits and therefore you will need to ascertain any level of cover from your client (e.g. contract of employment and/or details of any voluntary top up scheme).

The Trustee or the Employer has full discretion as to how death benefits are distributed.

Additional information

There is no Guaranteed Annuity Rate or Guaranteed Minimum Pension.
There is no Waiver of Premium.
There is no life assurance premium funded through unit disinvestment or reduced allocation.
The funds are not With-Profits.
There is no bid-offer spread.
The allocation rate is 100%.

Please note that we only hold the Member’s Authority on file for 12 months from the date at which the member signed it. Therefore, if any future requests are received after this has expired, we will require a new Letter of Authority before we would be able to process your request.

Download the full scheme information.