LifeSight, WTW’s UK DC master trust, has been appointed by Morgan Sindall Group to handle its DC pension scheme, which has around 9,300 members and £420 million in assets.
Adviser LCP recommended LifeSight after conducting a market assessment and competitive tender, citing its member engagement and personalised support. Adding Morgan Sindall’s membership means that LifeSight now manages £21 billion in assets and around 415,000 members.
Morgan Sindall group tax and treasury director Paul Marriott says: “Given our six employing entities, each with its own underlying pension structures, we were very mindful of the complexities and nuances of our pension scheme. We sought a provider that had the experience and flexibility to really tailor its offering to our needs and that’s what impressed us about LifeSight.
“Its careful and selective growth strategy also ensured we were given the resources to get the transition to LifeSight absolutely right. These aspects in particular contributed to a very smooth implementation process, with high levels of member engagement throughout.”
LifeSight UK head Jelena Croad says: “This is a great example of where LifeSight really excels. A complex scheme structure requiring a highly bespoke approach, with an organisation that is committed to working with us to achieve high levels of member engagement.
“The Morgan Sindall team conducted an extremely thorough market review and knew exactly what they needed for their membership. We are very pleased that they recognised LifeSight’s strengths in these areas and gave us the opportunity to deliver for their pension scheme members.”