Ricardo Plc, the global strategic engineering and environmental consultancy, has moved its 2,500 UK defined contribution (DC) pension scheme members, and £125 million in assets, from the Ricardo International Pension Scheme into the LifeSight master trust.
Formerly operating a single-employer trust scheme, Ricardo selected LifeSight in September 2020 to take over its UK DC pension scheme, following a competitive tender. After a period of consultation with affected employees and integration, LifeSight went live for their employee contributions in March 2021 and the transfer of £125 million of all members’ assets was completed in April 2021, ahead of schedule.
The addition of the Ricardo scheme, along with several other recent client wins, brings LifeSight overall to 235,000 members and £10.5bn of assets under management.
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