On the go: Engineering company KBR has appointed LifeSight as master trust provider for its 6,400 UK defined contribution scheme members.
In total, approximately £350mn of KBR members’ assets were transferred to LifeSight between July 2021 and September 2022.
As part of the project, KBR gave employees from recently acquired organisations the option to transfer their DC pension to the master trust.
At engineering systems consultancy Frazer-Nash, which was acquired by KBR in October 2021, 95 per cent of its 800 DC members opted to transfer their pension pots to LifeSight.
KBR UK benefits manager Amit Roychoudhury said: “As a multifaceted organisation, we needed to be sure that the provider we chose would be able to handle the complexity involved in onboarding employees from several different organisations that had recently joined the KBR family.
“LifeSight was able to demonstrate their expertise and flexibility in this kind of operation, as well as a commitment to member services, a fully independent governance structure and investment in technology that stood out in the market.”
With the addition of KBR’s membership, LifeSight now has around 300,000 members with £14bn in assets under management.
