The scheme, Xafinity Pensions Trust, aims to combine the governance of a trust-based arrangement with the low-costs of a contract-based defined contribution scheme.
XPT has one set of trustees and administrators overseeing all participating employers’ pension benefits.
Each employer’s slice of the XPT master trust is ring-fenced. This allows them to offer their own employer pension trust, which can be individually branded.
The multi-employer model enables administration and governance costs to be spread widely, minimising charges and freeing more funds for investment, according to the firm.
XPT offers a range of self-select funds as well as four diversified lifestyle-type portfolios which aim to provide investment returns with less risk.
Xafinity says the scheme also provides comprehensive investment support to help members select which fund strategy is appropriate for them.
Xafinity consulting director Lyndon Jones says: “XPT offers an attractive new pension option for employers, which we believe will be well received by employees, many of whom are apprehensive about current pension trends.”