WTW to acquire cutting-edge UK fintech pensions and savings provider, Cushon

Core Insights - WTW has agreed to acquire Cushon from NatWest Group, enhancing its capabilities in the UK defined contribution master trust space and unlocking new growth opportunities in mid-size workplace pensions and savings [1][2] Company Overview - WTW's acquisition of Cushon adds nearly £4 billion in assets under management and 730,000 members to its portfolio, complementing its existing LifeSight master trust, which has over £26 billion in assets and 430,000 members [2][4] - Cushon is recognized for its technology-led solutions that are scalable and successful, which will enable WTW to serve a broader range of clients in the rapidly growing master trust market [4][8] Industry Context - The UK defined contribution master trust segment is the fastest-growing area, with an industry growth rate of approximately 35% in 2024 and an expected average growth of around 18% per year over the next decade [3][8] - The acquisition aligns with the trend of providers seeking greater scale and efficiency to better serve customers and generate higher returns for savers [8] Strategic Implications - The deal includes a referral arrangement allowing NatWest's commercial banking customers to access Cushon's services, ensuring continuity and growth in client relationships [3][6] - WTW aims to leverage its increased scale and capabilities to enhance offerings, member experience, and drive innovation in workplace pensions and savings [9][10]