LCP Ireland Master Trust Survey 2026

LCP is very excited to launch its Irish Master Trust Survey 2026 report. 

This year’s report comes at a time of significant changes in the Irish pensions industry with the commencement of auto-enrolment in January 2026 significantly increasing pension coverage among Irish workers.

Since the implementation of IORP II in 2021, the market has experienced significant changes, driven largely by regulatory requirements and the need to meet enhanced governance standards. With implementation now complete, this adjustment phase has largely come to an end.

The MT market has now entered a more mature stage, with increased operational scale amplifying differences between providers; differences which may materially affect member outcomes in years to come. Competition between providers is becoming more pronounced, supported by broader propositions and changing expectations from both employers and members.

This report examines how the MT market has developed over 2025 and comments on some of the key factors driving innovation and competition.

What's inside

• Market growth, consolidation and the changing competitive landscape for master trust providers
• How auto-enrolment is reshaping Ireland's master trust market and accelerating provider growth
• Why differences in default investment strategy design are increasingly driving member outcomes
• The rise of AI, evolving regulation and what comes next for Irish master trusts