LifeSight, Willis Towers Watson’s UK DC Master Trust, has achieved market leading growth since its launch in 2015 reaching £2bn of assets under management (AuM) in Great Britain (GB), covering 50,000 scheme members.
LifeSight, a defined contribution (DC) multi-employer trust, provides employers with high-quality, market-competitive, lower risk pension provision for employees, without the governance burden. As part of this, the team is committed to providing innovative tools to better enhance member engagement and help people understand the importance of long-term saving.
Fiona Matthews, Global Managing Director said: “We’re so pleased to achieve this important milestone, which reflects the significant growth in employers with larger, established DC schemes moving to a master trust rather than just being the pension solution of choice to meet auto-enrolment requirements. This year, market consolidation and industry regulation – such as the Pension Schemes Act – will provide employers with a clearer picture of the most credible pension providers in the sector. This is good news for members and employers alike; the master trust providers that thrive in this environment will do so because they are able to provide a market leading service to employers and pension scheme members.”
LifeSight has also now been rolled out globally with considerable success, currently managing $5bn AUM and over 100,000 members across five countries. The brand values of excellence in member engagement with high quality, high-value investment options are being translated across multiple jurisdictions to fit in with the relevant legislation and employer demands.
Fiona continued: “As well as this important £2bn AuM milestone, we’ve also recently won the Innovation Award at the Pensions Age Awards, which recognises providers that have truly added value to the pensions space with their originality and innovation and just yesterday we welcomed another employer into LifeSight GB. We’re delighted that all of our hard work is now coming to fruition and we look forward to further success.”