GlaxoSmithKline spin-off Haleon has appointed LifeSight to run its company pension.
Previously this was a single-employer trust, run by GSK. The scheme, which has 2,000 members will now use LifeSight’s master trust.
Haleon became a separate company from GSK in July this year, but its DC members became members of LifeSight a few months earlier a part of a planned transition. LifeSight says it has worked closely with GSK to ensure members had access to like-for-like services within the master trust arrangement, including a replication of the investment strategy that was in place for GSK members.
WTW head of global savings solutions Fiona Matthews says: “We are pleased to have successfully onboarded Haleon’s 2,000 members efficiently and to GSK and Haleon’s requirements.
“It was a period of significant change for their employees but Haleon was committed to providing them with peace of mind and the highest level of service for their DC pension, so we are proud that LifeSight was selected to fulfil this role.”
The addition of Haleon’s membership, along with a number of other recent client wins, means LifeSight now looks after the pensions for 275,000 members with over £13.5bn in assets under management.
Last year, as part of its ongoing commitment to sustainable investing, LifeSight committed to net zero greenhouse gas emissions across all its default funds by 2050, with at least a 50 per cent reduction by 2030.
