Towers Watson’s LifeSight is the latest scheme to achieve master trust assurance framework accreditation.
LifeSight achieved the accreditation, developed by the Pensions Regulator and the Institute of Chartered Accountants in England and Wales (ICAEW). This adds to LifeSight’s other master trust accreditation, the PQM Ready assurance.
LifeSight managing director Fiona Matthews says: “This is an important milestone for LifeSight as we set out at the beginning of the year to achieve both of these assurances, and to be the first major consulting firm to do so for their master trust. We strongly feel that a small group of serious players are emerging from the fast growing master trust market who are well funded, well governed and provide good value and great service to members.
“We believe that the Pensions Regulator should make it mandatory for all master trusts to achieve this status within a set timeframe. In an emerging and fast growing market like this, employers need to know that their member’s savings are safe. Mandatory accreditations would go a long way to providing confidence in the providers and develop a reputable and trustworthy industry.”