LifeSight named as the first master trust to be authorised by the Pensions Regulator
LONDON, 20 February 2019 – LifeSight has been named as the first master trust to gain authorisation following a successful application to the Pensions Regulator.
LifeSight was the first master trust to apply for authorisation in October 2018. Being the first to be authorised reflects LifeSight’s planning, attention to detail and foresight.
LifeSight’s governance with robust oversight and high quality systems and processes enabled it to meet the required criteria and begin the authorisation process ahead of all other master trusts.
Fiona Matthews, Managing Director of LifeSight said:
“We are thrilled to be blazing a trail for master trusts and receive this formal regulatory approval of the work LifeSight does. Being the first master trust to reach this landmark is a testament to the service we offer our members and clients, giving them the assurance that they are with the right provider. We expect that authorisation will give schemes that have been waiting and watching developments the confidence to make the switch to master trust.
“We will continue to develop the LifeSight offering within this new framework, improving our credentials to existing and prospective clients, as we did last year increasing the ESG coverage in the investment strategy.”
Jane Platt, Chair of LifeSight Trustee Board said:
High governance and oversight standards are the way we deliver a great experience and outcome to LifeSight members. LifeSight’s governance has always been led by the trustee board, independent of Willis Towers Watson. In that structure, the trustee commissions services which provide the clarity of roles and responsibility that the regulator requires, but most importantly holds all service providers to account.
We constantly challenge ourselves to set strong standards for others to meet for the benefit of members.”