LifeSight (Willis Towers Watson)

Willis Towers Watson’s LifeSight master trust is one of the minority of defaults in the survey that already invests in funds adopting an environmental, social and governance (ESG) screening process. The master trust, which was launched too late in 2015 to have three-year figures for this survey, passed the £2bn milestone for UK assets in March this year, £900m of which are invested in the default. The default is invested in components from LGIM and HSBC, blended by Willis Towers Watson.

LifeSight has been rolled out globally and now manages $5bn for 100,000 people across five countries.

Members wanting to take more control over their investments can build their own investment strategy using WTW’s Flexicycle or choose from a range of self-select funds.

Communication is core to the proposition. The LifeSight AgeOmeter tool is designed to help members understand when they may be able to retire, while personalised communications are directed to the individual at appropriate times.

Members of LifeSight get access to a free of charge guidance service from HUB Financial Solutions about how to utilise their pot.

Asset Allocation charts

Data as of 31.03.18
BenchmarkComposite benchmark
Alternatives offered to defaultNine lifestyle strategies available to members targeting cash, annuity purchase and drawdown at retirement with different levels of risk, and a range of self-select funds
Charging structure for membersBespoke
Charging structures for employersUsually no employer charges. If an employer wants to pay part of the Annual Management Fee (which ordinarily the member would pay), they can do so by arrangement
Total assets as at 31.3.18£900m
Members in default40,000 (across active and deferred members)
Transfer out to draw income?No
Approach to non-advised drawdownAlready offers it
Does default invest in ESG-screened funds?Already offers it
Scheme administratorWillis Towers Watson
Scheme investment adviserWillis Towers Watson
Asset managers usedLGIM, HSBC
1 Year3 Year5 Year
Annualised returns before costs (%)2.9--
CAPA Index +/-0.99--
1 Year3 Year5 Year
Annualised returns before costs (%)4.0--
CAPA Index +/-1.37-7.09-