Morgan Sindall appoints LifeSight as DC master trust provider to over 9,000 members

Client wins

15 August 2024

London, 15 August 2024

LifeSight, WTW’s UK defined contribution (DC) master trust, has been appointed by Morgan Sindall Group, the Partnerships, Fit Out and Construction Services group, to be master trust provider for its UK DC pension scheme members.

LifeSight’s remit covers the DC pensions for current and former employees from the six divisions of Morgan Sindall Group’s UK entities with a total of approximately 9,300 members and £420m in assets under management.

LCP was appointed to advise Morgan Sindall Group and ran a whole-of-market review, including a competitive tender process. LifeSight was selected following this process, in particular for its high-quality member engagement approach and closely personalised support for individual members.

Paul Marriott, Group Tax and Treasury Director, Morgan Sindall Group Plc, said:

“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.”

Jelena Croad, Head of LifeSight UK, said:

“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.”

The addition of Morgan Sindall’s membership, and other recently committed clients, means LifeSight has now secured £21bn in assets under management, and around 415,000 members.

About LifeSight

LifeSight is WTW’s master trust and defined contribution single trust solution in Ireland. Master trust is a defined contribution multi-employer pension trust for employers looking to offer their employees a high-quality, lower-risk, market-competitive pension, without the governance burden.

Running a defined contribution pension scheme can be complex and costly for a lot of employers. LifeSight’s master trust looks after the day-to-day running of the pension scheme, whilst a professional trustee board looks after the interests of savers.

LifeSight offers access to a leading digitalised platform, including its innovative ageOmeter tool. Combined with our proven expertise in investments and communications, LifeSight is the complete package. LifeSight is also a well-established solution in the UK.

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 organisations sharpen their strategy, enhance organisational resilience, motivate their workforce and maximise performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.