London – 16 September 2025
7,500 members have chosen LifeSight drawdown since retirement
LifeSight’s drawdown facility has now hit over £1bn in assets, with members choosing LifeSight’s drawdown service to manage their income in retirement.
LifeSight, WTW’s defined contribution (DC) master trust, has over £24bn in assets under management from its 430,000 members. The majority are under retirement age, but as the DC industry matures more members are reaching retirement.
When DC members retire, they can decide how to receive their savings. Members can choose to transfer their assets into drawdown facilities that enable them to manage their pension pot while leaving the rest invested for growth. LifeSight currently has 7,500 drawdown members who have opted to transfer over £1bn of retirement assets into its flexible drawdown solution.
Jelena Croad, Head of LifeSight UK, commented on this milestone:
“We are incredibly proud that thousands of our members have proactively chosen to stay with LifeSight as they reach retirement and move their pension pots into a dedicated flexible drawdown facility so that they can continue to benefit from LifeSight’s investment expertise and ease of access. It is a testament to the trust and confidence our members have in us, and we are dedicated to continuing to innovate and provide the best possible retirement solutions for our members.”
“In the past, many of our members transferred their LifeSight DC pot back into their employer’s DB scheme and used it for their tax-free cash lump sum. Over time, the number of members with legacy DB is falling and we’re seeing ‘generation DC’ start to retire.”
The recent Government Pension Schemes Bill includes provisions that require DC pension schemes to provide a default retirement option for members. LifeSight anticipates that this ‘guided retirement’ requirement will drive further innovation in the sector, providing even more tailored and effective retirement solutions for members in the coming years.
“The Government’s new ‘guided retirement’ provisions are a positive step towards ensuring that all members have access to suitable retirement options,” added Croad. “The industry is already making positive changes in this space, with options like guided drawdown and later life annuities coming to the fore. We expect decumulation CDC to also be an attractive option. We’re speaking to our members and focusing on innovation as we prepare for the new guided retirement provisions to come into effect.”
As well as managing over £24bn in assets on behalf of 430,000 members, LifeSight was recently named Defined Contribution Investment Manager of the Year at the UK Pensions Awards.
About LifeSight
LifeSight is WTW’s master trust, a defined contribution multi-employer pension trust for employers who would benefit from high-quality, low-risk, market-competitive pension provision without the governance burden.
Running a defined contribution pension scheme is becoming complex and costly for a lot of employers. Governance is growing ever more onerous and schemes now have new pension flexibilities to contend with. Companies want to find a high-quality alternative that has their employees’ needs at heart. LifeSight offers the best attributes of a trust in an outsourced arrangement. Our unique solution looks after the day-to-day running of the scheme, whilst an independent trustee board looks after the interests of your members.
LifeSight gives members access to our leading-edge digitalised platform, including the award-winning ageOmeter tool, and administration services. Combined with our proven expertise in investments and communications, LifeSight is the complete package.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success.
Learn more at wtwco.com.
Media Contact
Jamie Kilduff:
+44 (0)20 7170 3746
