Corporate Adviser
  • Content Hubs
  • Magazine
  • Alerts
  • Events
  • Video
    • Master Trust Conference 2024 videos
  • Research & Guides
  • About
  • Contact
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG
No Result
View All Result
Corporate Adviser
No Result
View All Result

Smart Pension to take over Lighthouse master trust

by John Greenwood
January 21, 2019
Share on FacebookShare on TwitterShare on LinkedInShare on Pinterest

Smart Pension is taking the employers and members of Lighthouse Group’s Corporate Pensions Trust following the decision of its trustees not to apply for master trust authorisation.

CPT’s decision not to apply for authorisation means the £12.5m scheme, which has more than 500 employers 6,538 active members, will close and be wound up. All members will move to the AutoEnrolment.co.uk Master Trust operated by Smart Pension.

A partnership between Lighthouse and Smart Pension will see the Lighthouse Group use the Smart master trust as its preferred master trust scheme for SMEs, in place of the Lighthouse Pensions Trust that currently forms part of the CPT.

The transfer of assets is subject to finalisation of the contract and Smart Pension obtaining master trust authorisation from TPR for its AEMT and is planned to take place over the next six months.

Smart CEO and co-founderAndrew Evans says: “We are delighted to enter into this partnership following an in-depth review by the Lighthouse Group, on behalf of the CPT Trustees. We are impressed with Lighthouse Group’s approach to excellence in client service and care, which will continue going forward. This is great news all round, particularly for the employers and members of the CPT who will have access to our world-class customer experience and market-leading technology.”

Lighthouse Group CEO Malcolm Streatfield says: “The Lighthouse Group plc board is pleased to have secured, in principle, a deal to transfer participating employers and members and the scheme assets accumulated within the Corporate Pensions Trust to the Master Trust run by Smart Pension Limited. The transfers, once the AEMT has been approved by the Pensions Regulator, will provide a well-backed and market-leading home for those employers and members who have previously chosen to use the Corporate Pensions Trust to meet their auto-enrolment obligations.  This enables the Group to concentrate on its primary business of providing appropriate financial advice, particularly through its affinity connections, and giving a recurring revenue to the Group for years to come.

“We will continue to work very closely with the team at Smart as we develop our wider corporate benefits business, focusing on our advice offering particularly within our affinity relationships.”

 

 

 

VIDEO

Corporate Adviser Special Report

REQUEST YOUR COPY

Most Popular

  • Scottish Widows, Fidelity and Hargreaves swerve Mansion House Accord

  • 5pc of assets in UK PE: 17 providers sign Mansion House Accord

  • Rapid asset growth sees 9 providers pass £25bn mark: CA Master Trust and GPP Defaults report

  • Consultants and trustees voice concerns about Mansion House Accord

  • Aviva and Age UK call for ‘mid-retirement’ MOT to stop people outliving pension savings

  • Aviva appoints Noon as Master Trust chair

Corporate Adviser

© 2017-2024 Definite Article Media Limited. Design by 71 Media Limited.

  • About
  • Advertise
  • Privacy policy
  • T&Cs
  • Contact

Follow Us

X
No Result
View All Result
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG

No Result
View All Result
  • Home
  • News
  • In Depth
  • Profile
  • Pensions
    • Auto-enrolment
    • DB
    • DC
    • Defaults
    • Investment
    • Master Trusts
    • Sipps & SSAS
    • Taxation
  • Group Risk
    • Group Life
    • Group IP
    • Group CIC
    • Mental Health
    • Rehab
    • Wellbeing
  • Healthcare
    • Musculoskeletal
    • Mental Health
    • IPT
    • Wellbeing
    • Trusts
    • Cash Plans
  • Wellbeing
    • Mental Health
    • Health & Wellbeing
    • Financial resilience
  • ESG

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.