WTW Acquisition of Cushon Raises Master Trust Assets to £30bn for 1.2m Members
WTW has completed its acquisition of workplace pensions provider Cushon, boosting its UK master trust assets to over £30 billion and serving 1.2 million DC scheme members. Cushon’s £4.2 billion portfolio and 755,000 savers will extend WTW’s reach into the middle market under a continued NatWest referral agreement.
1. Acquisition Completed and Scale Growth
WTW finalized its purchase of Cushon after securing regulatory approval, integrating the Cushon Master Trust into its LifeSight portfolio. This transaction brings total master trust assets under management to more than £30 billion across 1.2 million defined contribution members.
2. Expanded Market Position
The acquisition cements WTW’s ranking as the fourth largest master trust provider in the UK DC pension market. LifeSight will maintain focus on large corporate plans, while Cushon’s 755,000 savers and nearly 20,000 employer clients open access to the middle market segment.
3. Strategic Partnership and Outlook
A standing referral agreement with NatWest ensures uninterrupted pension services for corporate clients, and the combined platforms aim to deliver enhanced governance, technological innovation and long-term value for employers and savers across all market segments.