Your Trustee Board

Protecting the interests of scheme members

Standard Life has established the Standard Life Master Trust Co Ltd (SLMTC) to act as trustee and to work in the interests of members of the Standard Life Defined Contribution Master Trust and Stanplan A pension schemes.

The board of SLMTC consists of five members all of whom, including the chair, are independent of Standard Life. They meet regularly throughout the year. Richard Butcher who represents PTL, the chair of the board, has asked Standard Life to add the following comments:

I am delighted to have been asked to Chair the board of SLMTC. The board members, who are described below, bring many years of experience to their role and are committed to protecting the interests of the members of the two schemes.

The board of SLMTC is here to:

  • Ensure the safety of your savings

    The board is responsible for ensuring that your pension savings are in a safe place. This doesn't mean that their value might not fall if investment markets do, but it does mean that they are protected against fraud, theft or the business failure of Standard Life.

  • Consider what's in your financial interests

    We will invest your savings, taking into account any investment decisions you have made. Where you don't make an investment decision we will invest your savings in the default investment option for your scheme. We will review the strategy and investment performance of the default and will consider your financial interests when making decisions in relation to the default.

    We will consider whether the charges Standard Life are taking from your savings represent good value for services they deliver. If they do not, we will challenge Standard Life to improve value.

  • Listen to you

    We do want and value your feedback. We would like your views on your pension and the service you receive from Standard Life.

    These views are an important part of the assessment of good value from Standard Life – we'll focus on of all aspects of the plan across its lifetime to provide a good outcome in retirement.

    If you have a complaint this needs to be raised with Standard Life in the first instance. If this can't be resolved Standard Life will refer the complaint to the board for consideration.

  • Trustee's Report and Chair's Statement

  • By the end of July each year we will produce a report.
  • Our first Trustee's Report and Chair's Statement, which I encourage you to read, is available below. This includes:

    • Our opinion on whether you are getting good value
    • Information relating to charges and transaction costs
    • How core financial transactions are processed

    Master Trust Chair's Annual Statement.Master Trust Chair's Annual Statement.


     Master Trust Annual Statement

    Stanplan A Chair's Annual StatementStanplan A Chair's Annual Statement.


     Stanplan A Annual Statement

  • Statement of investment principles

    This is the Statement of Investment principles prepared by the Standard Life Master Trust Co. Ltd (SLMTC), the trustees of the Standard Life Defined Contribution Master Trust.

    This 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
  •  Statement of investment. Statement of investment principles


     Statement of investment principles

    Independent audit assurance

    The board of SLMTC is pleased to present its report detailing the control procedures that are in place for the Standard life DC Master Trust and the Standard Life Stanplan A scheme.

    Internal controls for Standard Life Master Trust Schemes Report.Internal controls for Standard Life Master Trust Schemes Report.


     Internal controls for Standard Life Master Trust Schemes Report.

    If you have any feedback you can email the board directly, please take the time to do this. Your feedback is crucial to the board's success.

    The board members are introduced below.


    Richard Butcher
    PTL, Chairman of SLMTC board

    Meet the Board Members