, ▁master ▁trust s ▁should ▁be ▁able ▁to ▁provide ▁access ▁to ▁these ▁sav ings . ▁However , ▁following ▁the ▁introduction ▁of ▁The ▁P ensions ▁Act ▁ 2 0 0 8 , ▁and ▁concerns ▁that ▁members ▁might ▁be ▁over charg ed ▁the ▁UK ▁Government ▁announced ▁ ▁a ▁cap ▁on ▁the ▁fe es ▁that ▁could ▁be ▁lev ied ▁on ▁automatically ▁en rolled ▁members ▁of ▁p ensions ▁schemes . ▁ ▁Govern ance ▁While ▁ ▁master ▁trust s ▁are ▁set ▁up ▁to ▁be ▁separate ▁from ▁their ▁provider , ▁many ▁have ▁question ed ▁the ▁independence ▁of ▁the ▁trust ee ▁bo ards . ▁In ▁a ▁traditional ▁trust ▁based ▁scheme , ▁the ▁trust ees ▁are ▁able ▁to ▁replace ▁their ▁service ▁prov iders , ▁such ▁as ▁administr ators ▁or ▁invest ment ▁man agers . ▁ ▁However , ▁because ▁of ▁the ▁potential ▁clos eness ▁of ▁the ▁provider ▁and ▁their ▁master ▁trust ▁board , ▁the ▁trust ees ▁may ▁not ▁have ▁this ▁power ▁in ▁a ▁master ▁trust . ▁ ▁In ▁response , ▁the ▁Institute ▁of ▁Char tered ▁Account ants ▁in ▁England ▁and ▁Wales ▁in ▁association ▁with ▁The ▁P ensions ▁Reg ulator ▁developed ▁a ▁volunt ary ▁ass urance ▁framework ▁to ▁provide ▁independent ▁ass urance ▁reports ▁for ▁the ▁trust ees ▁of ▁master ▁trust s . ▁ ▁The ▁framework ▁was ▁designed ▁to ▁evidence ▁the ▁key ▁quality ▁features ▁set ▁out ▁in ▁The ▁P ensions ▁Reg ulator ’ s ▁code ▁of ▁practice ▁for ▁defined ▁contribution ▁schemes . ▁ ▁G row th ▁Master ▁trust ▁p ension ▁schemes ▁have ▁existed ▁for ▁many ▁years , ▁but ▁came ▁to ▁prom in ence ▁after