You are our top priority. We want to help you reach your goals for future retirement and maintain your ideal life once you’re there. Pensions can be complicated so we want to simplify it for you. It’s time to be empowered by your pension provider so you can make the right choices for you.

We are the National Pension Trust (the Trust), a leading Master Trust, authorised and supervised by The Pensions Regulator and proudly part of the XPS Pension Group. Our Trustees and staff provide a high quality, affordable service that offers choice and flexibility not commonly seen in pensions. There are over 47,000 members of the Trust and over 150 employers who we work closely with to give you the best service possible.

Essentially the NPT Master Trust is a large pension scheme, for Defined Contribution pensions. It’s made up of lots of different employers who each have a section in the Master Trust. By providing services for multiple employers alongside an expert Trustee Board, it spreads the costs while excelling in quality. This is good news for lots of people who need an affordable but personal pension experience.

Employers choose a Master Trust because they not only get an expertly managed pension arrangement, their employees get the independence to take control of their money so both employers and employees can feel confident that your future is well looked after.

The Trustees are independent, professionals, selected for their wide experience in supporting schemes over many years and their individual yet complementary skill sets.


Ian Davies

Chair of Trustees

Ian is a Consultant at Eversheds-Sutherland and owner director of Hudson Trustees Limited. He has over 30 years' pension experience and is a member of the Association of Pension Lawyers, the Association of Member Directed Pension Schemes and a former Chairman of his local NAPF. Ian is a Trustee to DB and DC pension schemes, including a number of master trusts.

Gurmukh Hayre


Gurmukh is a Director of Grove Trustee Services Limited. An experienced ex-KPMG partner, who specialises in all areas of pensions including, governance, risk management, investment, administration and communication. He has been advising employers, trustee boards and governance committees on defined benefit, defined contribution and associated benefit schemes for over 28 years.

Michael Brown


Michael is Principal at Portsoken Consultancy Limited and has over 45 years' pensions experience and was previously Director of Business Risk and Compliance for Independent Trustee Services Limited.  He has been Trustee to several large schemes.

Jo Powell


Jo has extensive Pension, HR and employee engagement knowledge. She has served as a Trustee on a number of DB and DC pension schemes, notably heading up Administration and Communications Sub-Committees. A Fellow of the Chartered Institute of Personnel and Development, Joanne has held a number of senior HR roles, including the UK & Ireland HR Director for a multi-national IT organisation.

Gerald Wellesley


Gerald is a Client Director at Punter Southall Governances Services Limited. He has over 30 years’ experience in the finance industry including 13 years as pension trustee in both DB and DC arenas where he has gained experience across a broad range of strategic and routine scheme management matters. Gerald’s particular interests are in the areas of investment, covenant and effective communication - especially in DC.

The XPS Group provides administration and consulting services and are the 'Founders' of the Trust. They advise more than 1500 pension schemes and administer pensions for over 930,000 members. As the only UK pensions specialist listed on the FTSE, XPS has the flexibility to think and act differently. The unique structure means that we can make transparent, long-term investment decisions in our business for the good of our members.

Above all, we want you to know that we are here for you.  If you need support or want to feedback at any point, please don’t hesitate to get in touch.  Knowing what you need is helpful for us! We are part of the XPS Pensions Group and we are proud to adopt the group's values.


We embrace technology. We have ambitious goals for our clients, our industry and ourselves. This means leading our industry in thought, action and opinion. It means we are progressive and think differently about pensions. We invite bold thinking and actions within our business, and we give each person the support they need to become their very best.


We know our stuff, and we each bring something special to our collective knowledge. We make a point of cultivating our individual expertise – we use it, share it and support each other for the benefit of our clients and colleagues every single day. We each put what we know to good use – and build on this with constant learning.


We’re forward-thinking, innovative and quick-moving. When we see a better way to do something, we make change happen. We don’t just follow the way things have always been done in our industry. We take a fresh look at things – and find new ways of achieving the best outcomes for our clients.


We are one firm who build great relationships with our clients and with each other. This means we’re always ready and willing to help out – clients and colleagues know they can trust us. We work hard together, we support each other, we listen and we are helpful. And we have fun together.

Do the right thing

We’re approachable, honest and fair; both with our clients and each other. We are inclusive, we value each person for what they bring to the company. We respect and reward hard work and talent. We act with integrity, build great relationships and take responsibility for what we do.


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Provide administration and consulting services, and 'Founders' of the Trust.

Industry-recognised investment providers including L&G, HSBC, Newton, Standard Life and Threadneedle.

Provide investment platform and asset transition services.

Provide software solutions.

Provide independent financial advice to members.

Provide audit services.

Provide legal services.