The Fujitsu Pension Scheme has moved its defined contribution (DC) members into the LifeSight Master Trust, increasing the trust’s membership by 17,000 and assets under management (AUM) by £730m.

The move will see LifeSight take on full responsibility for the management of Fujitsu members’ pension provision, and will allow members to benefit from an increased range of investment strategies, improved value for money, and full access to decumulation options, with financial advice included.

LifeSight, a Willis Towers Watson master trust, now has a total membership of 185,000, with a total £7.5bn AUM.

The scheme has already praised the level of member engagement since moving to the trust, with over 30 per cent of Fujitsu members logged into their LifeSight account to review their pension on the day it was launched.

Fujitsu noted that this was "significantly above the level of engagement previously achieved", with engagement continuing to grow, as over 40 per cent of the scheme members are now actively managing their pension online.

Fujitsu UK&I head of pensions and benefits, Paula Evans, commented: “Moving our members into LifeSight has enabled Fujitsu to re-launch pensions with LifeSight using its highly innovative and engaging tools, communications and online member accounts.

"LifeSight’s focus on the effective use of technology to engage members at a personal level to help them through all of their pensions journey both before and after retirement really resonated with us.

"The support from LifeSight throughout the transition and the high levels of member engagement created within our membership, goes to show we made the right choice in partnering with LifeSight.”

LifeSight managing director, Fiona Matthews, added: “Fujitsu is a perfect fit for LifeSight, as their focus on innovative technology is now better reflected in the pension benefits that they are providing for their employees and members.

“This addition of Fujitsu to the trust is another important step in the growth and development of LifeSight, and with the master trust market fully authorised and regulated, we’re expecting more organisations to review their pension provision in the coming year.”

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