LifeSight publishes on its website:
“Vodafone has completed the transfer of its 45,000 UK Defined Contribution (DC) pension scheme members into the LifeSight master trust. With £1.4bn of assets it is believed to be the largest ever transfer of an unbundled DC scheme to a master trust.
Formerly a single employer trust-based scheme, the Trustees of the Vodafone UK DC Pension Plan conducted a strategic review of their DC investment approach. This review concluded that the default investment strategy should be targeted at decumulation drawdown – providing greater flexibility for members at retirement – and that the members would be best served by a specialist master trust that could deliver a range of targeted investment strategies and provide value for money for the member.
In addition, Vodafone was keen to provide more Environmental, Social and Governance (ESG) fund options for members. LifeSight’s combination of ‘freestyle’ ESG fund options and its incorporation of ESG into its primary default funds was a significant factor in its selection.
LifeSight’s introduction saw strong engagement from members, with over 70% of Vodafone employees logging into their new LifeSight account following the launch.”
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