Cushon signs Mansion House Compact

Pensions and savings fintech firm Cushon has become the latest signatory to the Mansion House Compact, which was announced by Chancellor, Jeremy Hunt, in this summer’s Mansion House speech.

The compact aims to encourage increasing the proportion of UK pension assets invested in unlisted equities through a voluntary pledge by defined contribution (DC) pension schemes to allocate 5 per cent of their assets to unlisted assets by 2030.

Cushon’s existing 15 per cent default fund target allocation to private markets includes unlisted equities, infrastructure, real estate and natural capital.

Of this 15 per cent, Cushon aims for a 25 per cent to 45 per cent investment in unlisted equities, meaning its current total default fund target allocation to unlisted equities is between 3.75 per cent and 6.75 per cent.

Cushon’s private equity investments include solar power systems provider and e-charging infrastructure firm Adler, and insurtech business Igloo.

Commenting on the announcement, Hunt said: "I am delighted that Cushon has become the 11th signatory of the Mansion House Compact.

“This adds yet more momentum to the government and industry’s collective mission to bolster retirement incomes for pension savers and turbocharge the growth of our most innovative companies."

Cushon founder and CEO, Ben Pollard, added: “Private market assets not only present opportunities for higher returns, they also build pensions to be proud of. Investing directly in real-world assets in the UK aligned to the values of our members means we can better engage members with their savings.

“When members can see, touch, and even taste, the good that their money is doing, they are more likely to pay attention to their pension which encourages increased contributions and better planning for later life.

“We’re pleased to be signing the Mansion House Compact and encouraging the wider industry to include these valuable assets in their strategies.”

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