The Pensions Regulator (TPR) is to publish a list of group personal pensions (GPPs) open to any employers seeking to comply with their automatic enrolment duties.
TPR explained they believed well-run multi-employer master trusts and GPPs are the best choice for small and micro employers.
A list of independently reviewed master trusts that are open to all employers is already available on the employers' section of TPR's website.
The regulator encouraged GGP providers who are open to all employers to apply to appear on the list, which would help with increasing the choice of well-run schemes available.
The criteria for joining the GPP list have been published.
Executive director for regulatory policy Andrew Warwick-Thompson said: "The criteria for GPPs to appear on the new list are intended to mirror, as far as possible, the criteria for master trusts.
"Crucially, this means that not only must GPPs be open to all employers but that providers will need to confirm that their independent governance committee or governance advisory arrangement has assessed the product on offer. TPR is producing a checklist for providers to use when submitting information."
Helen Ball, head of defined contribution at Sackers, said the list could be a "helpful tool" particularly for small and micro employers.
"Such employers are often less supported by external advice, so this could make their decision more straightforward," she said.
Master trusts schemes are regulated by TPR while contract-based schemes are monitored by the Financial Conduct Authority (FCA). Ball noted there was collaboration between the two regulators.
She said: "In a wider sense, the GPP list is an interesting example of how the 'levelling' of the playing field between contract-based GPPs and trust-based master trusts is taking shape."
"While both are subject to different regulatory requirements, it is good to know that things are joining up behind the scenes, with TPR and the FCA working together in this. Their collaboration will help employers make sensible choices for automatic enrolment purposes from a TPR perspective, and also ties in with the question of 'value', which is being considered by independent governance committees, to meet FCA requirements."
