On the go: The Ricardo International Pension Scheme, with 2.500 members and £125m in assets, has been moved into the LifeSight master trust.
Ricardo, an engineering and environmental consultancy, selected the Willis Towers Watson master trust in September 2020 to take over its defined contribution scheme, following a tender.
After a period of consultation with affected employees and integration, LifeSight went live for their employee contributions in March and the assets transfer was completed ahead of schedule in April, the master trust stated.
Mark Edwards, group head of treasury at Ricardo, noted the company chose LifeSight due to its “commitment to sustainable investing and its ability to build a bespoke service around the specific needs of our pension scheme members”.
He said: “The close support we received from their dedicated onboarding team and experienced work stream leaders at LifeSight led to a very smooth and efficient implementation process, and a very positive experience for our members.”
According to the master trust, more than 60 per cent of Ricardo’s employees logged into their new LifeSight account following the launch.
The addition of the Ricardo scheme, along with several other recent client wins, brings LifeSight assets under management to £10.5bn and 235,000 members.
