December 01

Ireland, Dublin


Mercer DC Master Trust Awarded IAPF Pensions Quality Standard


  • Mercer DC Master Trust is the first Master Trust to be awarded the IAPF Pensions Quality Standard.
  • Award announced at today’s IAPF Communications and Governance Conference.
  • Award recognises the Mercer DC Master Trust’s standard of governance and communication.
  • The Mercer DC Master Trust is a multi-employer pension plan using a single umbrella structure that removes the burden of trusteeship from employers while allowing them to offer the highest-quality plan to their employees.

It was announced today that the Mercer Defined Contribution (DC) Master Trust has become the first Master Trust to be awarded the Pensions Quality Standard (PQS) of the Irish Association of Pension Funds (IAPF) on the basis of the standard of its governance and communications. The award recognises those DC pension schemes that attain a certain standard in terms of qualitative contribution, communication and governance strategies. Plans within the Master Trust can claim qualification for the Pensions Quality Standard where they meet the contribution criteria.


Announcing the award at the association’s Communications and Governance Conference today, IAPF CEO Jerry Moriarty said: “The Pension Quality Standard (PQS) is awarded to schemes that achieve the required Governance, Communication and Contribution standards. The IAPF is pleased that the Mercer DC Master Trust joins over 30 other schemes that have achieved the IAPF’s Pensions Quality Standard.”


In acknowledging the uniqueness of the award to the Mercer DC Master Trust, Mr Moriarty added: “This is the first time the PQS has been awarded to a Master Trust. The Mercer DC Master Trust has demonstrated that it meets our Governance and Communication standards. Any individual employers within the Master Trust will only need to demonstrate that they meet the Contribution standards in order to be awarded the PQS.”


The Mercer DC Master Trust enables employers to provide a pension plan with high-quality, built-in governance and communications standards while minimising the burden on their organisation. Applying a single governance structure within which multiple plans are overseen, the Mercer DC Master Trust also benefits from a high quality investment framework using the Mercer Aspire investment platform. This platform offers employees easy-to-understand, diversified investment solutions managed by global experts.


Andrew Hodnett, Senior Consultant at Mercer, said: “The Mercer DC Master Trust will suit employers who want the very best for their pension plan in terms of governance, communication, compliance and investments, but who worry that the burdens of trusteeship are becoming unmanageable for ordinary employees and HR staff. The Mercer DC Master Trust was designed using principles and learnings from other DC markets, such as the UK and Australia, where master trusts have become a prevalent DC model.”


To find out more about the Mercer DC Master Trust and to put your pension plan on the road to highest quality governance, investment and communications, visit our website or contact Mercer at




Editors’ notes:


About the IAPF’s Pensions Quality Standard

The IAPF’s Pensions Quality Standard (PQS) for defined contribution (DC) schemes is intended to acknowledge the time, effort and money that sponsors and trustees spend on making their pension schemes fit for purpose and to encourage employers who already provide quality DC pension plans to maintain and improve these offerings.

The IAPF DC PQS, recognises those pension schemes that attain a certain standard which reflects qualitative contribution, communication and governance strategies for DC Schemes.


About the Mercer DC Master Trust

The Mercer DC Master Trust allows employers to offer a DC pension plan with the highest quality of governance and communications – while delegating fiduciary oversight duties to independent dedicated professionals. In so doing it helps employers reduce risk and removes most of the administrative burden of providing a DC pension plan.


  • Governance: the Mercer DC Master Trust is governed by a dedicated professional trustee, relieving employers of the burden of providing adequately trained and qualified trustees from inside the organisation. It includes best-in-class governance structures, as recognised by the IAPF.
  • Investment: as the Mercer DC Master Trust uses the Mercer Aspire investment platform, members have access to top global investment managers and diversified, risk-rated investment options.
  • Communication: as recognised by the IAPF, the Mercer DC Master Trust provides a high level of communications support for all members, with increased resources for those approaching retirement.

About the IAPF

The Irish Association of Pension Funds represents Irish pension savers and seeks to educate, represent and inform its members with a view to achieving secure, fair and simple retirement provision. Its services span:


  • Strong representation    
  • Research    
  • Regular updates on pension developments    
  • Educational events    
  • Guidelines and publications

About Mercer

Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and careers of their most vital asset – their people. Mercer’s more than 20,000 employees are based in 43 countries and the firm operates in over 140 countries.  Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy and people. With annual revenue of $13 billion and 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Marsh, a leader in insurance broking and risk management; Guy Carpenter, a leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a leader in management consulting. For more information, visit Follow Mercer on Twitter @Mercerireland.